Inspire Investing LLC Cuts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Inspire Investing LLC trimmed its position in shares of Republic Services, Inc. (NYSE:RSG) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,863 shares of the business services provider’s stock after selling 524 shares during the quarter. Republic Services makes up about 0.6% of Inspire Investing LLC’s portfolio, making the stock its 24th biggest holding. Inspire Investing LLC’s holdings in Republic Services were worth $5,807,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RSG. Stifel Financial Corp increased 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 valued at $364,449,000 after purchasing an additional 1,477,255 shares in the last quarter. Wellington Management Group LLP increased its holdings 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 valued at $1,205,883,000 after purchasing an additional 1,131,850 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Republic Services by 83,671.9% during the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after purchasing an additional 538,010 shares in the last quarter. Nordea Investment Management AB increased its holdings in Republic Services by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after acquiring an additional 509,116 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in Republic Services by 544.7% in the 3rd quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock worth $109,580,000 after acquiring an additional 460,989 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Trading Down 1.2 %

Shares of RSG stock opened at $212.39 on Thursday. The company’s 50-day moving average price is $209.32 and its 200-day moving average price is $204.93. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The stock has a market cap of $66.51 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 3.11 and a beta of 0.73. Republic Services, Inc. has a twelve month low of $168.01 and a twelve month high of $220.58.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the company posted $1.54 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. CIBC boosted their price target on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Oppenheimer boosted their price target on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price target on shares of Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. Finally, Truist Financial lifted their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $221.12.

Insider Buying and Selling at Republic Services

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the company’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 transaction, the director now owns 879 shares of the company’s stock, valued at $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the company’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 completion of the transaction, the chief financial officer now directly 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. 0.09% of the stock is currently owned by corporate insiders.

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.