SteelPeak Wealth LLC Acquires New Holdings in Republic Services, Inc. (NYSE:RSG)

SteelPeak Wealth LLC bought a new position in Republic Services, Inc. (NYSE:RSG) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 1,114 shares of the business services provider’s stock, valued at approximately $224,000.

A number of other institutional investors have also modified their holdings of RSG. Wellington Management Group LLP lifted its position 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 acquiring an additional 1,131,850 shares during the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 73,207 shares in the last quarter. Nordea Investment Management AB grew its stake in Republic Services by 19.4% during 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 during the last quarter. Allspring Global Investments Holdings LLC raised its stake in 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 valued at $506,265,000 after buying an additional 57,040 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings 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 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 institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Oppenheimer increased their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial increased their price objective on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upgraded 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. Morgan Stanley raised their price target on shares of Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group increased their target price on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $222.24.

Republic Services Price Performance

Republic Services stock opened at $216.82 on Friday. The company has a fifty day simple moving average of $209.77 and a 200-day simple moving average of $205.59. The firm has a market capitalization of $67.90 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 3.11 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. Republic Services, Inc. has a 52-week low of $169.83 and a 52-week high of $220.58.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The company had revenue of $4.08 billion during 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%. Republic Services’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 EPS. On average, equities analysts anticipate that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Insider Activity at Republic Services

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of Republic Services 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 directly owns 879 shares of the company’s stock, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

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.