Republic Services, Inc. (NYSE:RSG) Shares Acquired by Heirloom Wealth Management

Heirloom Wealth Management lifted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 7.1% during the fourth quarter, Holdings Channel reports. The fund owned 80,906 shares of the business services provider’s stock after purchasing an additional 5,398 shares during the quarter. Republic Services comprises 4.9% of Heirloom Wealth Management’s portfolio, making the stock its 8th biggest holding. Heirloom Wealth Management’s holdings in Republic Services were worth $16,277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RSG. FSA Wealth Management LLC purchased a new stake in shares of Republic Services during the 3rd quarter valued at $25,000. Wolff Wiese Magana LLC boosted its holdings in Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 109 shares during the last quarter. Webster Bank N. A. purchased a new stake in Republic Services during the third quarter valued at about $31,000. Truvestments Capital LLC acquired a new stake in Republic Services during the third quarter worth about $34,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Republic Services in the 3rd quarter worth about $39,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Republic Services

In other 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 transaction, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. This trade represents 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 company’s stock in a transaction dated Tuesday, November 19th. The stock was 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 $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 owned by insiders.

Wall Street Analysts Forecast Growth

RSG has been the topic of several research reports. Truist Financial raised their price target 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. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $211.00 to $238.00 in a report on Friday, December 6th. Morgan Stanley raised their price objective on Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Jefferies Financial Group upped their target price on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised 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. Six equities research 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $222.24.

Republic Services Price Performance

Shares of RSG opened at $211.74 on Monday. 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, Inc. has a 12 month low of $168.58 and a 12 month high of $220.58. The stock has a fifty day moving average price of $209.45 and a 200 day moving average price of $205.22. The company has a market cap of $66.31 billion, a P/E ratio of 33.88, a PEG ratio of 3.07 and a beta of 0.73.

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 the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations 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, research analysts forecast that Republic Services, Inc. will post 6.25 earnings per share for the current year.

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.