Tritonpoint Wealth LLC Increases Stock Position in Republic Services, Inc. (NYSE:RSG)

Tritonpoint Wealth LLC increased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 5.9% in the fourth quarter, Holdings Channel reports. The firm owned 3,243 shares of the business services provider’s stock after buying an additional 182 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Republic Services were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of RSG. Wellington Management Group LLP raised its stake in shares of Republic Services by 23.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after buying an additional 1,131,850 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Republic Services by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock worth $903,316,000 after purchasing an additional 73,207 shares during the last quarter. Nordea Investment Management AB grew its holdings in Republic Services by 19.4% during 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 buying an additional 509,116 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Republic Services by 2.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after buying an additional 57,040 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of Republic Services by 437.9% during the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after acquiring an additional 1,477,255 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Jefferies Financial Group raised their price objective on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada raised shares of 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 research report on Monday, January 6th. Truist Financial raised their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. CIBC upped their price objective on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $222.24.

Insider Activity

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’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 transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Republic Services Stock Down 0.7 %

RSG opened at $216.82 on Monday. 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, Inc. has a 12 month low of $169.83 and a 12 month high of $220.58. The stock’s 50 day moving average price is $209.77 and its 200 day moving average price is $205.71. The stock has a market cap of $67.90 billion, a P/E ratio of 34.69, a P/E/G ratio of 3.11 and a beta of 0.73.

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.