Forsta AP Fonden Acquires 8,800 Shares of Republic Services, Inc. (NYSE:RSG)

Forsta AP Fonden increased its holdings in Republic Services, Inc. (NYSE:RSG) by 17.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,800 shares of the business services provider’s stock after purchasing an additional 8,800 shares during the period. Forsta AP Fonden’s holdings in Republic Services were worth $11,829,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Creative Planning raised its stake in shares of Republic Services by 9.2% in the 2nd quarter. Creative Planning now owns 29,087 shares of the business services provider’s stock valued at $5,653,000 after acquiring an additional 2,452 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 purchasing an additional 19,113 shares during the period. EP Wealth Advisors LLC lifted its stake in shares of Republic Services by 1.6% in the second quarter. EP Wealth Advisors LLC now owns 3,860 shares of the business services provider’s stock worth $750,000 after buying an additional 60 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Republic Services by 3,827.6% during the 2nd quarter. Clearbridge Investments LLC now owns 106,241 shares of the business services provider’s stock worth $20,647,000 after buying an additional 103,536 shares during the period. Finally, Maven Securities LTD bought a new position in Republic Services in the 2nd quarter worth $797,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

Republic Services stock opened at $218.55 on Friday. The business’s 50-day simple moving average is $209.68 and its 200 day simple moving average is $205.50. 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 stock has a market cap of $68.44 billion, a price-to-earnings ratio of 34.97, a P/E/G ratio of 3.07 and a beta of 0.73. Republic Services, Inc. has a 12-month low of $169.83 and a 12-month high of $220.58.

Republic Services (NYSE:RSG) last posted its quarterly 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. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the firm posted $1.54 earnings per share. Republic Services’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RSG. William Blair started coverage on Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Oppenheimer lifted their price target on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. CIBC upped their target price on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Truist Financial raised their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $222.24.

Republic Services 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.