Cornerstone Wealth Group LLC Purchases 295 Shares of Republic Services, Inc. (NYSE:RSG)

Cornerstone Wealth Group LLC increased its position in Republic Services, Inc. (NYSE:RSG) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,757 shares of the business services provider’s stock after purchasing an additional 295 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Republic Services were worth $3,975,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Republic Services by 23.2% during 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 in the last quarter. Geode Capital Management LLC boosted its holdings in 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 in the last quarter. Nordea Investment Management AB raised its holdings in shares of 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 buying an additional 509,116 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Republic Services by 2.3% during 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 buying an additional 57,040 shares during the period. Finally, Stifel Financial Corp boosted 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 valued at $364,449,000 after buying an additional 1,477,255 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Down 0.2 %

RSG opened at $211.74 on Monday. The firm has a 50 day simple moving average of $209.45 and a 200 day simple moving average of $205.16. Republic Services, Inc. has a fifty-two week low of $168.58 and a fifty-two week high of $220.58. The company has a market cap of $66.31 billion, a price-to-earnings ratio of 33.88, a price-to-earnings-growth ratio of 3.07 and a beta of 0.73. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the business posted $1.54 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction 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 sale, the director now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of several recent analyst reports. CIBC boosted their target price on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Jefferies Financial Group raised their price objective on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday. Truist Financial boosted their target price on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and raised their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average target price 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.