Jennison Associates LLC Acquires 1,924 Shares of Republic Services, Inc. (NYSE:RSG)

Jennison Associates LLC boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 200,756 shares of the business services provider’s stock after purchasing an additional 1,924 shares during the period. Jennison Associates LLC’s holdings in Republic Services were worth $40,388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Princeton Global Asset Management LLC grew its holdings in shares of Republic Services by 5.3% during the 4th quarter. Princeton Global Asset Management LLC now owns 11,724 shares of the business services provider’s stock worth $2,359,000 after purchasing an additional 595 shares in the last quarter. Greenleaf Trust lifted its position in Republic Services by 2.4% in the fourth quarter. Greenleaf Trust now owns 4,708 shares of the business services provider’s stock worth $947,000 after purchasing an additional 112 shares during the period. Spire Wealth Management increased its holdings in Republic Services by 15.3% in the 4th quarter. Spire Wealth Management now owns 6,457 shares of the business services provider’s stock valued at $1,299,000 after buying an additional 856 shares during the period. Tritonpoint Wealth LLC raised its stake in shares of Republic Services by 5.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 3,243 shares of the business services provider’s stock valued at $652,000 after buying an additional 182 shares in the last quarter. Finally, Capital Insight Partners LLC lifted its holdings in shares of Republic Services by 5.4% during the 4th quarter. Capital Insight Partners LLC now owns 25,222 shares of the business services provider’s stock worth $5,074,000 after acquiring an additional 1,299 shares during the period. 57.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Republic Services

In other Republic Services 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 completion of the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was 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. This represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock opened at $219.22 on Wednesday. The stock has a market cap of $68.65 billion, a PE ratio of 35.08, a price-to-earnings-growth ratio of 3.17 and a beta of 0.74. The stock has a 50-day moving average of $209.84 and a 200-day moving average of $205.83. 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 one year low of $171.06 and a one year high of $221.75.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Jefferies Financial Group lifted their price objective on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley increased their target price on shares of Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Oppenheimer upped their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, CIBC lifted their target price on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $222.24.

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.