Fenimore Asset Management Inc Cuts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Fenimore Asset Management Inc reduced its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 282,232 shares of the business services provider’s stock after selling 2,509 shares during the period. Republic Services accounts for about 1.2% of Fenimore Asset Management Inc’s holdings, making the stock its 29th biggest position. Fenimore Asset Management Inc’s holdings in Republic Services were worth $56,779,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RSG. Stifel Financial Corp increased its stake in Republic Services by 437.9% in the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after buying an additional 1,477,255 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Republic Services by 23.2% during the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after acquiring an additional 1,131,850 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Republic Services by 83,671.9% during the third quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock worth $108,183,000 after acquiring an additional 538,010 shares during the period. Nordea Investment Management AB grew its stake in Republic Services by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after purchasing an additional 509,116 shares during the period. Finally, National Bank of Canada FI increased its position in shares of Republic Services by 544.7% during the 3rd quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock valued at $109,580,000 after purchasing an additional 460,989 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RSG shares. Oppenheimer boosted their price target on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and increased their target price for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. CIBC lifted their price target on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $219.00 to $237.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group boosted their target price on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $222.24.

Insider Activity

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares of the company’s stock, valued at $189,222.33. This trade represents a 67.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, 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. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $211.74 on Friday. The stock has a 50-day moving average price of $209.45 and a 200 day moving average price of $205.09. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 12-month low of $168.58 and a 12-month high of $220.58. The stock has a market capitalization of $66.31 billion, a P/E ratio of 33.88, a P/E/G ratio of 3.07 and a beta of 0.73.

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

Republic Services Company 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.