Empowered Funds LLC Acquires New Holdings in Republic Services, Inc. $RSG

Empowered Funds LLC bought a new position in shares of Republic Services, Inc. (NYSE:RSG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 16,456 shares of the business services provider’s stock, valued at approximately $3,506,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. Korea Investment CORP bought a new position in Republic Services during the 2nd quarter worth $20,602,000. Bridgewater Advisors Inc. acquired a new stake in shares of Republic Services in the second quarter valued at about $535,000. Equitable Holdings Inc. acquired a new stake in shares of Republic Services in the second quarter valued at about $1,381,000. iA Global Asset Management Inc. raised its position in shares of Republic Services by 18.5% during the fourth quarter. iA Global Asset Management Inc. now owns 64,200 shares of the business services provider’s stock worth $13,606,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Republic Services in the second quarter worth approximately $16,335,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Up 1.1%

RSG stock opened at $223.27 on Wednesday. The stock’s 50 day simple moving average is $217.04 and its 200 day simple moving average is $215.10. The company has a market cap of $68.37 billion, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 3.66 and a beta of 0.40. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.64 and a current ratio of 0.64. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $235.18.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.04. The firm had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Republic Services had a return on equity of 18.69% and a net margin of 12.94%.The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.77 earnings per share. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. On average, research analysts expect that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, October 2nd will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.62. Republic Services’s payout ratio is 35.41%.

Insider Buying and Selling

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 301,000 shares of the stock in a transaction on Monday, August 31st. The shares were purchased at an average price of $221.94 per share, for a total transaction of $66,803,940.00. Following the completion of the acquisition, the insider owned 114,487,527 shares in the company, valued at approximately $25,409,361,742.38. This represents a 0.26% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have acquired 3,683,545 shares of company stock worth $807,614,912. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup increased their target price on shares of Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Weiss Ratings upgraded shares of Republic Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. UBS Group increased their price objective on shares of Republic Services from $233.00 to $235.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada lifted their target price on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Morgan Stanley set a $232.00 target price on shares of Republic Services in a report on Friday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.26.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.