Financial Insights Inc. Cuts Stock Position in Republic Services, Inc. (NYSE:RSG)

Financial Insights Inc. cut its holdings in Republic Services, Inc. (NYSE:RSG) by 12.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,030 shares of the business services provider’s stock after selling 151 shares during the quarter. Financial Insights Inc.’s holdings in Republic Services were worth $207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Republic Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after buying an additional 101,518 shares during the period. Capital World Investors boosted its stake in Republic Services by 20.5% during the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after buying an additional 1,346,588 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in 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 worth $506,265,000 after buying an additional 57,040 shares during the period. Legal & General Group Plc boosted its stake in Republic Services by 5.4% during the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock worth $351,480,000 after buying an additional 92,013 shares during the period. Finally, TD Asset Management Inc boosted its stake in Republic Services by 2.1% during the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after buying an additional 35,650 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. Scotiabank assumed coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price for the company. CIBC lifted their target price on Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, William Blair assumed coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $212.18.

Republic Services Price Performance

RSG opened at $203.92 on Wednesday. The business’s 50-day moving average is $204.08 and its two-hundred day moving average is $196.17. Republic Services, Inc. has a 1 year low of $142.65 and a 1 year high of $208.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $64.05 billion, a PE ratio of 34.16, a price-to-earnings-growth ratio of 3.29 and a beta of 0.69.

Republic Services (NYSE:RSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. Research analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share 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.