Mill Creek Capital Advisors LLC Takes $901,000 Position in Republic Services, Inc. (NYSE:RSG)

Mill Creek Capital Advisors LLC acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 4,480 shares of the business services provider’s stock, valued at approximately $901,000.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in 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 purchasing an additional 1,131,850 shares in the last quarter. Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 73,207 shares in the last quarter. Nordea Investment Management AB lifted its holdings in 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 purchasing an additional 509,116 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in 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 purchasing an additional 57,040 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in 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 during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Republic Services

In related news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s 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 directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RSG has been the topic of a number of research reports. Truist Financial lifted their price objective on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. 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. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $219.00 to $237.00 in a report on Monday, January 6th. CIBC increased their price target on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and increased their price target for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $224.38.

Republic Services Trading Up 0.4 %

Shares of NYSE RSG opened at $221.92 on Tuesday. Republic Services, Inc. has a twelve month low of $171.06 and a twelve month high of $223.43. The stock has a market capitalization of $69.50 billion, a PE ratio of 35.51, a PEG ratio of 3.24 and a beta of 0.74. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The stock has a fifty day simple moving average of $210.01 and a 200-day simple moving average of $206.36.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s payout ratio is currently 37.12%.

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.