Stonegate Investment Group LLC Reduces Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Stonegate Investment Group LLC lowered its stake in Republic Services, Inc. (NYSE:RSG) by 3.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 65,071 shares of the business services provider’s stock after selling 2,261 shares during the quarter. Stonegate Investment Group LLC’s holdings in Republic Services were worth $13,091,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RSG. Public Sector Pension Investment Board lifted its position in 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 during the last quarter. Marshall Wace LLP acquired a new position in Republic Services in the second quarter valued at about $4,625,000. Creative Planning lifted its position in Republic Services by 9.2% in the second quarter. Creative Planning now owns 29,087 shares of the business services provider’s stock valued at $5,653,000 after buying an additional 2,452 shares during the last quarter. NewEdge Advisors LLC lifted its position in Republic Services by 52.3% in the second quarter. NewEdge Advisors LLC now owns 25,771 shares of the business services provider’s stock valued at $5,008,000 after buying an additional 8,845 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Republic Services by 158.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 31,171 shares of the business services provider’s stock valued at $6,058,000 after buying an additional 19,113 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Katharine Weymouth sold 1,859 shares of the firm’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 transaction of $400,186.93. Following the transaction, the director now owns 879 shares in the company, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Shares of Republic Services stock opened at $215.47 on Tuesday. The firm has a market capitalization of $67.47 billion, a P/E ratio of 34.48, a P/E/G ratio of 3.07 and a beta of 0.73. Republic Services, Inc. has a 52 week low of $169.83 and a 52 week high of $220.58. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm’s 50 day moving average is $209.45 and its two-hundred day moving average is $205.22.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The business 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 last year, the firm posted $1.54 earnings per share. Research analysts forecast that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Analyst Ratings Changes

RSG has been the topic of several research reports. Jefferies Financial Group increased their price target on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Scotiabank initiated coverage on shares of 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. CIBC increased their price target on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Finally, Morgan Stanley raised their target price on shares of Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a report 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’s stock. Based on data from MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and a consensus 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.