Brighton Jones LLC Buys 8,547 Shares of Republic Services, Inc. (NYSE:RSG)

Brighton Jones LLC lifted its stake in Republic Services, Inc. (NYSE:RSG) by 75.8% in the 4th quarter, HoldingsChannel reports. The firm owned 19,822 shares of the business services provider’s stock after acquiring an additional 8,547 shares during the period. Brighton Jones LLC’s holdings in Republic Services were worth $3,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in shares of Republic Services by 437.9% during the third 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 during the last quarter. Wellington Management Group LLP raised its stake in Republic Services by 23.2% during the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after purchasing an additional 1,131,850 shares in the last quarter. International Assets Investment Management LLC lifted its position in Republic Services by 83,671.9% during the third quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after purchasing an additional 538,010 shares during the last quarter. Nordea Investment Management AB grew its stake 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 buying an additional 509,116 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Republic Services by 544.7% in the 3rd quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock worth $109,580,000 after buying an additional 460,989 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were 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 owns 6,318 shares in the company, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RSG shares. William Blair initiated coverage on shares of Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. Oppenheimer upped their target price on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price objective on Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $219.00 to $237.00 in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.24.

Republic Services Stock Performance

NYSE RSG opened at $212.28 on Friday. The firm has a market cap of $66.47 billion, a P/E ratio of 33.96, a P/E/G ratio of 3.07 and a beta of 0.73. 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 business’s 50-day moving average price is $209.32 and its 200 day moving average price is $204.93. Republic Services, Inc. has a 52-week low of $168.58 and a 52-week high of $220.58.

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

About Republic Services

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.