Republic Services, Inc. $RSG Shares Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its stake in Republic Services by 9.2%, owning a total of 18,101 shares valued at approximately $4.38 million after acquiring an additional 1,530 shares in the first quarter.
• Insider trading activity included major shareholder Cascade Investment, L.L.C. purchasing 4,258 shares, while EVP Gregg Brummer sold 7,338 shares, reflecting a notable decrease in his position by 64.38%.
• Republic Services declared a quarterly dividend of $0.625, an increase from the previous $0.58, resulting in an annualized dividend yield of 1.1% for investors.

Empowered Funds LLC boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 9.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,101 shares of the business services provider's stock after buying an additional 1,530 shares during the period. Empowered Funds LLC's holdings in Republic Services were worth $4,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Republic Services by 75.8% in the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after purchasing an additional 8,547 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Republic Services in the fourth quarter valued at about $246,000. Janus Henderson Group PLC increased its holdings in shares of Republic Services by 0.7% in the fourth quarter. Janus Henderson Group PLC now owns 32,148 shares of the business services provider's stock valued at $6,468,000 after purchasing an additional 217 shares during the period. OMERS ADMINISTRATION Corp increased its holdings in shares of Republic Services by 20.4% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 9,192 shares of the business services provider's stock valued at $1,849,000 after purchasing an additional 1,560 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in shares of Republic Services by 9.2% in the fourth quarter. Nuveen Asset Management LLC now owns 811,097 shares of the business services provider's stock valued at $163,176,000 after purchasing an additional 68,476 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the completion of the sale, the executive vice president owned 4,060 shares of the company's stock, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the acquisition, the insider owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their position. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by company insiders.

Republic Services Price Performance

Shares of NYSE RSG traded down $0.21 during midday trading on Monday, hitting $228.27. The stock had a trading volume of 799,043 shares, compared to its average volume of 955,002. The company has a market capitalization of $71.27 billion, a PE ratio of 33.77, a P/E/G ratio of 3.56 and a beta of 0.59. The stock has a 50 day simple moving average of $235.65 and a 200-day simple moving average of $240.97. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, sell-side analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) is 34.32%.

Analyst Upgrades and Downgrades

RSG has been the topic of a number of research reports. UBS Group set a $260.00 price objective on Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Melius started coverage on Republic Services in a report on Monday, June 9th. They set a "hold" rating on the stock. Raymond James Financial raised their target price on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. BMO Capital Markets raised their target price on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, National Bank Financial raised Republic Services to a "hold" rating in a report on Monday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Republic Services currently has a consensus rating of "Moderate Buy" and an average target price of $262.17.

Republic Services Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.