Strategic Investment Advisors MI Invests $311,000 in Republic Services, Inc. (NYSE:RSG)

Strategic Investment Advisors MI bought a new position in shares of Republic Services, Inc. (NYSE:RSG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,547 shares of the business services provider’s stock, valued at approximately $311,000.

A number of other institutional investors have also added to or reduced their stakes in RSG. TCW Group Inc. increased its position in shares of Republic Services by 13.0% in the third quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after purchasing an additional 13,138 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of Republic Services during the 4th quarter valued at $4,430,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Republic Services during the 3rd quarter worth $6,102,000. Lifeworks Advisors LLC grew its position in Republic Services by 1,112.3% in the third quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock worth $4,312,000 after acquiring an additional 19,698 shares in the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in Republic Services during the fourth quarter valued at about $204,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Performance

NYSE:RSG opened at $215.47 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a twelve month low of $169.83 and a twelve month high of $220.58. The stock has a market cap of $67.47 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 3.07 and a beta of 0.73. The firm’s fifty day simple moving average is $209.45 and its 200 day simple moving average is $205.22.

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

Insider Transactions at Republic Services

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 879 shares of the company’s stock, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the business’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 directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

RSG has been the topic of several recent research reports. Jefferies Financial Group increased their price objective on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. William Blair initiated coverage on shares of Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. Truist Financial boosted their price target 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. Finally, Morgan Stanley raised their price objective on Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $222.24.

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.