Perfromance Wealth Partners LLC Lowers Holdings in Republic Services, Inc. (NYSE:RSG)

Perfromance Wealth Partners LLC reduced its position in Republic Services, Inc. (NYSE:RSG) by 14.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,165 shares of the business services provider’s stock after selling 190 shares during the period. Perfromance Wealth Partners LLC’s holdings in Republic Services were worth $234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RSG. FSA Wealth Management LLC purchased a new stake in Republic Services during the 3rd quarter worth approximately $25,000. Wolff Wiese Magana LLC grew its stake in Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after buying an additional 109 shares during the last quarter. Webster Bank N. A. bought a new position in Republic Services during the 3rd quarter worth $31,000. Truvestments Capital LLC bought a new position in Republic Services during the 3rd quarter worth $34,000. Finally, Ashton Thomas Securities LLC bought a new position in Republic Services during the 3rd quarter worth $39,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of RSG stock opened at $214.87 on Wednesday. The firm has a market cap of $67.29 billion, a P/E ratio of 34.38, a PEG ratio of 3.09 and a beta of 0.73. The stock’s 50-day moving average is $209.31 and its two-hundred day moving average is $204.74. Republic Services, Inc. has a fifty-two week low of $167.51 and a fifty-two week high of $220.58. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the company posted $1.54 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. Analysts predict that Republic Services, Inc. will post 6.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RSG shares. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Truist Financial boosted their price target on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. William Blair started coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Morgan Stanley upped their price objective on Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Republic Services has an average rating of “Moderate Buy” and an average target price of $221.12.

Insider Activity at Republic Services

In other news, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the transaction, the director now directly owns 879 shares in the company, valued at $189,222.33. This trade represents a 67.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

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.