Spire Wealth Management Boosts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Spire Wealth Management grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,457 shares of the business services provider’s stock after acquiring an additional 856 shares during the period. Spire Wealth Management’s holdings in Republic Services were worth $1,299,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in shares of 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 worth $1,205,883,000 after acquiring an additional 1,131,850 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Republic Services by 1.7% in the third quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock worth $903,316,000 after purchasing an additional 73,207 shares during the period. Nordea Investment Management AB increased its holdings in shares of Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after purchasing an additional 509,116 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Republic Services by 2.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after purchasing an additional 57,040 shares during the period. Finally, Stifel Financial Corp increased its stake in Republic Services by 437.9% in the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after acquiring an additional 1,477,255 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services 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 completion of the sale, 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 position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Republic Services Price Performance

RSG stock opened at $221.31 on Tuesday. The firm has a 50 day moving average price of $209.77 and a 200-day moving average price of $205.71. Republic Services, Inc. has a 52-week low of $171.06 and a 52-week high of $221.75. The firm has a market capitalization of $69.30 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 3.17 and a beta of 0.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RSG. CIBC increased their target price on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Truist Financial raised their price objective on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $219.00 to $237.00 in a research note on Monday, January 6th. Finally, Jefferies Financial Group raised their target price on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. 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, the company has an average rating of “Moderate Buy” and an average price target 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.