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Fundamental data is updated weekly, as of the prior weekend. Please download the Full Report and Dividend Report for any changes.
Latest Valuentum Commentary

Aug 1, 2023
Trash Taker Republic Services’ Outlook Keeps Getting Better
Image Source: Republic Services. Republic Services reported solid second-quarter 2023 results July 31, and it raised its full-year 2023 guidance across the board. During the period ending June 30, 2023, total revenue advanced 9.1% with more than half coming via organic means, while GAAP earnings per share of $1.41 exceeded the consensus forecast by $0.10. Republic Services continues to experience strong pricing power, helping to drive double-digit EBITDA expansion in the quarter. Adjusted free cash flow came in at ~$1.265 billion through the first six months of the year. Earlier in July, Republic Services increased its dividend ~8% to a quarterly payout of $0.535 per share (was $0.495). Shares yield ~1.4% at the time of this writing.
Jul 28, 2023
Dividend Increases/Decreases for the Week of July 28
Let's take a look at firms raising/lowering their dividends this week.
Jul 20, 2023
Stock Report Updates
Check out the latest report updates on the website.
Apr 10, 2023
Best Ideas Newsletter Portfolio Idea Republic Services Continues to Execute Well
Image: Republic Services has been executing nicely, growing its adjusted free cash flow at a 14% compound annual growth rate the past three years. Image Source: Republic Services. Shares of Republic are trading about in line with our fair value estimate ($130-$135) but have valuation upside on the basis of the high end of our fair value estimate range ($158 per share), in our view. The company boasts an investment-grade credit rating and has liquidity of ~$1.7 billion, while most of its debt doesn’t come due until after 2029. Republic Services’ equity is currently yielding ~1.5% at the moment, and we think it is a great fit for the newsletter portfolios. The garbage hauler continues to deliver in both good times and bad, and we have no reason to believe that it won’t continue to do so. Trash is cash when it comes to the waste-management business.
Feb 23, 2023
This Remains a Technically-Driven Stock Market
Image: We expect the S&P 500 (SPY) to test support at both its technical uptrend and the 200-day moving average. In the event the SPY breaks through technical support, we’d be looking to “raise cash” across the newsletter portfolios. S&P 500 companies will end 2022 with roughly a 4%-5% decline in fourth-quarter 2022 earnings, but earnings season has come in better-than-feared. We expect the Fed to continue to raise rates given recent producer price inflation readings and a continued strong labor market. The 10-year Treasury continues to pose headwinds to asset values, and while many are talking of “disinflation,” we expect the market to remain technically driven and begin to test support at the 200-day moving average across major indices. We believe 2023 will be a choppy year, as we look ahead to better times in 2024.
Dec 27, 2022
Exclusive Call: What To Expect From Valuentum in 2023
Video: 2022 was a successful year by almost every measure from the simulated Best Ideas Newsletter portfolio and simulated Dividend Growth Newsletter portfolio to the simulated High Yield Dividend Newsletter portfolio and Exclusive publication and beyond. There were some disappointments in 2022, of course, but the year showed the value of a Valuentum membership. Join President of Investment Research Brian Nelson on this year's Exclusive conference call to learn what to expect from Valuentum in 2023. Cheers!
Dec 16, 2022
Waste Management’s Free Cash Flow Facing Pressure from Sustainability Initiatives
Image Source: Waste Management’s 2022 Sustainability Report. 2023 will mark the 20th consecutive year that Waste Management has increased its dividend payout. Though free cash flow is facing pressure due to its sustainability growth initiatives that are driving total capital expenditures higher, the company’s valuable disposal capacity and pricing power across its municipal solid waste operations are a couple qualities that we like. Shares are trading about in line with our fair value estimate at the moment, as they boast a ~1.6% forward estimated annual dividend yield.
Nov 28, 2022
2022 Showcased the Value of a Valuentum Membership
In bull markets, almost everyone is a winner. But 2022 was different. This year was a big test for Valuentum, and we passed with flying colors. We delivered across the board during the year from ideas in the Exclusive publication and the efficacy of the dividend growth methodology to the resilience of high yield ideas and simulated Best Ideas Newsletter portfolio relative performance--despite setbacks from Meta Platforms, PayPal, and beyond. Tune in to the latest video installment from Valuentum. Thanks for listening!
Nov 10, 2022
Market Whipsaw: Crypto Collapse and a Lower-than-Expected Inflation Print
Image: Uncertainty in the cryptocurrency markets has surged with concerns over the liquidity of a key exchange. Investors are weighing the spillover effects of crypto with the view that the pace of inflation may have peaked. The U.S. equity market continues to be highly volatile as it whipsaws between concerns over the health and sustainability of cryptocurrency and optimism over lower-than-feared inflation readings. We maintain our bearish/defensive stance on equities, but at the same time, we continue to be “fully-invested” across the simulated newsletter portfolios in part because we don’t want to miss out on days like today, November 10, when the markets are soaring ~2.5%-5.5% depending on which index you are monitoring. We’re also not ruling out a Santa Claus rally through the end of the year. Merry Dow Jones, as they say!
Nov 9, 2022
ALERT: Replacing Disney with Republic Services in BIN Portfolio
Image Source: Valuentum. With content costs on the rise and the potential for the streaming business to become irrational as rivals fight for the incremental customer, Disney has a tough road ahead of it, in our view. Its ‘Parks, Experiences and Products’ segment is recovering nicely from the COVID-19 lockdowns, but losses in its ‘Media and Entertainment Distribution’ business remain very concerning in a difficult advertising environment. Disney has already cut its dividend payout, and while the firm remains free cash flow positive, we’re not fans of its massive net debt position. Our updated fair value estimate of Disney now stands at $93 per share, and it no longer fits the bill of a best idea. We’re replacing it with Republic Services in the simulated Best Ideas Newsletter portfolio. The change will be reflected in the next edition of the Best Ideas Newsletter.


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The High Yield Dividend Newsletter, Best Ideas Newsletter, Dividend Growth Newsletter, Nelson Exclusive publication, and any reports, articles and content found on this website are for information purposes only and should not be considered a solicitation to buy or sell any security. The sources of the data used on this website are believed by Valuentum to be reliable, but the data’s accuracy, completeness or interpretation cannot be guaranteed. Valuentum is not responsible for any errors or omissions or for results obtained from the use of its newsletters, reports, commentary, or publications and accepts no liability for how readers may choose to utilize the content. Valuentum is not a money manager, is not a registered investment advisor and does not offer brokerage or investment banking services. Valuentum, its employees, and affiliates may have long, short or derivative positions in the stock or stocks mentioned on this site.