Trust Point Inc. Cuts Position in Republic Services, Inc. (NYSE:RSG)

Trust Point Inc. cut its holdings in Republic Services, Inc. (NYSE:RSG) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,146 shares of the business services provider’s stock after selling 56 shares during the period. Trust Point Inc.’s holdings in Republic Services were worth $432,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. TCW Group Inc. raised its stake in shares of Republic Services by 13.0% during the third quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock valued at $23,013,000 after acquiring an additional 13,138 shares during the last quarter. Avanza Fonder AB bought a new position in shares of Republic Services during the fourth quarter valued at about $4,430,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Republic Services during the third quarter valued at about $6,102,000. Lifeworks Advisors LLC raised its stake in shares of Republic Services by 1,112.3% during the third quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock valued at $4,312,000 after acquiring an additional 19,698 shares during the last quarter. Finally, Czech National Bank raised its stake in shares of Republic Services by 6.1% during the fourth quarter. Czech National Bank now owns 44,134 shares of the business services provider’s stock valued at $8,879,000 after acquiring an additional 2,548 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RSG. Morgan Stanley upped their price objective on shares of Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Oppenheimer upped their price objective 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. Jefferies Financial Group upped their price objective on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $219.00 to $237.00 in a report on Monday, January 6th. Finally, BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and increased their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. Six 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $222.24.

Insiders Place Their Bets

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’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 sale, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction 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 sale, the director now owns 879 shares in the company, valued at $189,222.33. The trade was 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 Trading Up 0.7 %

Shares of RSG stock opened at $220.85 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 12-month low of $171.06 and a 12-month high of $221.75. The stock has a market capitalization of $69.16 billion, a P/E ratio of 35.34, a P/E/G ratio of 3.17 and a beta of 0.74. The firm’s 50 day moving average is $209.84 and its 200 day moving average is $205.94.

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.