Gries Financial LLC Purchases New Shares in Republic Services, Inc. (NYSE:RSG)

Gries Financial LLC acquired a new stake in Republic Services, Inc. (NYSE:RSG) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,322 shares of the business services provider’s stock, valued at approximately $266,000.

Several other hedge funds have also recently modified their holdings of the company. FSA Wealth Management LLC bought a new stake in Republic Services during the third quarter worth $25,000. Wolff Wiese Magana LLC increased its position in shares of Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 109 shares during the last quarter. Webster Bank N. A. bought a new stake in shares of Republic Services during the 3rd quarter worth $31,000. R Squared Ltd bought a new position in Republic Services during the fourth quarter valued at about $32,000. Finally, Truvestments Capital LLC purchased a new stake in Republic Services during the third quarter worth about $34,000. Institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RSG shares. CIBC increased their target price 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. Truist Financial raised their target price on Republic Services from $220.00 to $244.00 and gave the stock a “buy” 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 upped their price target for the company from $219.00 to $237.00 in a research report on Monday, January 6th. William Blair initiated coverage on Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, 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. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $222.24.

Insiders Place Their Bets

In other news, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. The trade was 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 Price Performance

NYSE:RSG opened at $218.55 on Friday. The firm has a market capitalization of $68.44 billion, a price-to-earnings ratio of 34.97, a P/E/G ratio of 3.11 and a beta of 0.73. 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 stock has a fifty day moving average of $209.68 and a 200 day moving average of $205.50. Republic Services, Inc. has a 52-week low of $169.83 and a 52-week high of $220.58.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. Republic Services’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.54 earnings per share. On average, research analysts expect that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

About Republic Services

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.