Republic Services, Inc. (NYSE:RSG) Shares Sold by Davis Capital Management

Davis Capital Management lowered its stake in Republic Services, Inc. (NYSE:RSG) by 3.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,383 shares of the business services provider’s stock after selling 421 shares during the quarter. Republic Services accounts for about 1.7% of Davis Capital Management’s portfolio, making the stock its 14th largest position. Davis Capital Management’s holdings in Republic Services were worth $2,089,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Simmons Bank raised its position in Republic Services by 2.8% in the 3rd quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock valued at $381,000 after purchasing an additional 51 shares in the last quarter. Access Financial Services Inc. raised its position in shares of Republic Services by 0.8% during the 4th quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock worth $1,243,000 after acquiring an additional 51 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Republic Services by 1.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock worth $1,024,000 after acquiring an additional 52 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Republic Services by 16.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock worth $77,000 after acquiring an additional 54 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its position in shares of Republic Services by 3.8% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider’s stock worth $310,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RSG. BMO Capital Markets raised 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. CIBC raised their target price on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Scotiabank assumed coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target on the stock. Oppenheimer lifted their price target on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley lifted their price target on Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $221.12.

Republic Services Price Performance

Shares of NYSE RSG opened at $214.87 on Wednesday. The company’s fifty day moving average is $209.31 and its two-hundred day moving average is $204.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $67.29 billion, a P/E ratio of 34.38, a PEG ratio of 3.09 and a beta of 0.73. Republic Services, Inc. has a one year low of $167.51 and a one year high of $220.58.

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 the consensus estimate of $1.61 by $0.20. The company had revenue of $4.08 billion for 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%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.54 earnings per share. Analysts forecast that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Katharine Weymouth sold 1,859 shares of the company’s 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 sale, the director now owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

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.