Evernest Financial Advisors LLC Cuts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Evernest Financial Advisors LLC cut its holdings in Republic Services, Inc. (NYSE:RSG) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,264 shares of the business services provider’s stock after selling 150 shares during the period. Evernest Financial Advisors LLC’s holdings in Republic Services were worth $657,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RSG. TCW Group Inc. increased its holdings in Republic Services by 13.0% in the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after buying an additional 13,138 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Republic Services in the fourth quarter worth approximately $4,430,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Republic Services during the third quarter valued at approximately $6,102,000. Lifeworks Advisors LLC lifted its position in 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 purchasing an additional 19,698 shares during the period. Finally, Pallas Capital Advisors LLC purchased a new stake in Republic Services in the fourth quarter worth approximately $204,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of NYSE RSG opened at $218.55 on Friday. The firm’s fifty day moving average is $209.68 and its two-hundred day moving average is $205.50. Republic Services, Inc. has a 52-week low of $169.83 and a 52-week high of $220.58. The company has a market cap of $68.44 billion, a P/E ratio of 34.97, a P/E/G ratio of 3.11 and a beta of 0.73. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.81 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%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.54 earnings per share. As a group, analysts anticipate that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. CIBC increased their price target on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group boosted their price objective on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Scotiabank started 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. Finally, Morgan Stanley raised their price objective on Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $222.24.

Insiders Place Their Bets

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services 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 completion of the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the company’s 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 transaction, 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. Corporate insiders own 0.09% of the company’s stock.

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.