Strategic Investment Advisors MI Makes New Investment in Republic Services, Inc. (NYSE:RSG)

Strategic Investment Advisors MI purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,547 shares of the business services provider’s stock, valued at approximately $311,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Running Oak Capital LLC raised its stake in shares of Republic Services by 7.5% in the fourth quarter. Running Oak Capital LLC now owns 68,479 shares of the business services provider’s stock worth $13,763,000 after purchasing an additional 4,762 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Republic Services by 255.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 16,953 shares of the business services provider’s stock worth $3,411,000 after buying an additional 12,180 shares in the last quarter. McGlone Suttner Wealth Management Inc. raised its position in Republic Services by 2.2% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock worth $445,000 after buying an additional 48 shares during the last quarter. Brighton Jones LLC lifted its stake in Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after acquiring an additional 8,547 shares during the period. Finally, Avior Wealth Management LLC boosted its holdings in shares of Republic Services by 4.3% during the 4th quarter. Avior Wealth Management LLC now owns 10,503 shares of the business services provider’s stock valued at $2,113,000 after acquiring an additional 430 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction that occurred 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 completion of the sale, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RSG. Morgan Stanley increased their price objective on shares of Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. Oppenheimer upped their price objective on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their price target for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and a consensus price target of $222.24.

Republic Services Price Performance

NYSE:RSG opened at $215.47 on Tuesday. The stock has a market cap of $67.47 billion, a PE ratio of 34.48, a P/E/G ratio of 3.07 and a beta of 0.73. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The business’s 50-day simple moving average is $209.45 and its two-hundred day simple moving average is $205.22. Republic Services, Inc. has a 52 week low of $169.83 and a 52 week high of $220.58.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share 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 business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the company posted $1.54 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, analysts forecast that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

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.