Republic Services, Inc. (NYSE:RSG) Shares Sold by Tectonic Advisors LLC

Tectonic Advisors LLC decreased its position in Republic Services, Inc. (NYSE:RSG) by 10.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,097 shares of the business services provider’s stock after selling 240 shares during the period. Tectonic Advisors LLC’s holdings in Republic Services were worth $422,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RSG. Truist Financial increased their price objective on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. CIBC lifted their price target on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Morgan Stanley upped 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. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Finally, Oppenheimer lifted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $224.38.

Republic Services Price Performance

RSG opened at $221.43 on Friday. Republic Services, Inc. has a 12-month low of $171.06 and a 12-month high of $221.75. 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 firm has a market capitalization of $69.34 billion, a P/E ratio of 35.43, a PEG ratio of 3.17 and a beta of 0.74. The stock has a fifty day moving average of $209.90 and a 200-day moving average of $206.04.

Insider Buying and Selling

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s 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 transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. Company 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.