Park Place Capital Corp Sells 1,889 Shares of Republic Services, Inc. (NYSE:RSG)

Park Place Capital Corp lowered its stake in Republic Services, Inc. (NYSE:RSG) by 46.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,145 shares of the business services provider’s stock after selling 1,889 shares during the period. Park Place Capital Corp’s holdings in Republic Services were worth $432,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of RSG. AE Wealth Management LLC lifted its holdings in shares of Republic Services by 27.1% during the second quarter. AE Wealth Management LLC now owns 2,743 shares of the business services provider’s stock worth $533,000 after buying an additional 585 shares in the last quarter. Summit Trail Advisors LLC raised its stake in Republic Services by 10.4% in the 2nd quarter. Summit Trail Advisors LLC now owns 1,339 shares of the business services provider’s stock worth $260,000 after purchasing an additional 126 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Republic Services by 5.9% in the 2nd quarter. ProShare Advisors LLC now owns 36,275 shares of the business services provider’s stock valued at $7,050,000 after purchasing an additional 2,011 shares during the period. Mount Yale Investment Advisors LLC bought a new position in shares of Republic Services during the second quarter worth approximately $305,000. Finally, Public Sector Pension Investment Board raised its position in shares of Republic Services by 130.0% in the second quarter. Public Sector Pension Investment Board now owns 5,761 shares of the business services provider’s stock valued at $1,120,000 after buying an additional 3,256 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Scotiabank initiated coverage on Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective on the stock. William Blair assumed coverage on Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. CIBC increased their price objective on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Oppenheimer boosted their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Truist Financial lifted their price objective on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and an average target price of $221.12.

Republic Services Stock Performance

NYSE:RSG opened at $212.39 on Wednesday. The stock’s 50-day moving average is $209.36 and its 200-day moving average is $204.88. Republic Services, Inc. has a 1-year low of $168.01 and a 1-year high of $220.58. 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 P/E ratio of 33.93, a price-to-earnings-growth ratio of 3.09 and a beta of 0.73.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The firm 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 company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 EPS. Equities research analysts anticipate that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction on 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 directly owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now directly owns 879 shares of the company’s stock, valued at $189,222.33. This represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

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.