Fiduciary Alliance LLC Boosts Stock Position in Republic Services, Inc. (NYSE:RSG)

Fiduciary Alliance LLC grew its position in Republic Services, Inc. (NYSE:RSG) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,547 shares of the business services provider’s stock after buying an additional 318 shares during the quarter. Republic Services accounts for 0.8% of Fiduciary Alliance LLC’s holdings, making the stock its 25th largest holding. Fiduciary Alliance LLC’s holdings in Republic Services were worth $8,358,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after acquiring an additional 1,131,850 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Republic Services by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock worth $903,316,000 after acquiring an additional 73,207 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Republic Services by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after acquiring an additional 509,116 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Republic Services by 2.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after acquiring an additional 57,040 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Republic Services by 437.9% in the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after acquiring an additional 1,477,255 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 879 shares of the company’s stock, valued at $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Republic Services Stock Performance

Shares of RSG traded down $1.02 during mid-day trading on Monday, reaching $205.27. The company had a trading volume of 120,916 shares, compared to its average volume of 871,125. Republic Services, Inc. has a 52-week low of $165.06 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 stock has a market capitalization of $64.28 billion, a P/E ratio of 32.84, a PEG ratio of 3.30 and a beta of 0.73. The stock has a 50 day moving average of $208.87 and a two-hundred day moving average of $204.02.

Republic Services (NYSE:RSG) last issued its quarterly 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 company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. Republic Services’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.54 earnings per share. On average, analysts expect that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.13%. Republic Services’s dividend payout ratio is currently 37.12%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RSG. Morgan Stanley upped their target price on Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and upped their target price for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Scotiabank began coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price on the stock. William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Finally, Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.12.

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.