Portfolio Design Labs LLC Acquires New Holdings in Republic Services, Inc. (NYSE:RSG)

Portfolio Design Labs LLC acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,399 shares of the business services provider’s stock, valued at approximately $281,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in Republic Services during the third quarter valued at approximately $25,000. Wolff Wiese Magana LLC lifted its position in Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 109 shares during the period. R Squared Ltd bought a new position in Republic Services during the fourth quarter valued at approximately $32,000. Truvestments Capital LLC bought a new position in Republic Services during the third quarter valued at approximately $34,000. Finally, Ashton Thomas Securities LLC bought a new position in Republic Services in the third quarter worth approximately $39,000. Institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

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 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 $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a 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 stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of 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 disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RSG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and increased their price target for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Morgan Stanley increased 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. Jefferies Financial Group increased their price target on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, 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. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $224.38.

Republic Services Stock Performance

RSG opened at $223.38 on Thursday. The stock has a market capitalization of $69.95 billion, a price-to-earnings ratio of 35.74, a PEG ratio of 3.24 and a beta of 0.74. The company has a fifty day moving average of $210.32 and a 200 day moving average of $206.82. Republic Services, Inc. has a fifty-two week low of $172.23 and a fifty-two week high of $224.45. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 1.04%. Republic Services’s payout ratio is 37.12%.

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.