Sterling Investment Management LLC Sells 89 Shares of Republic Services, Inc. (NYSE:RSG)

Sterling Investment Management LLC decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,241 shares of the business services provider’s stock after selling 89 shares during the quarter. Sterling Investment Management LLC’s holdings in Republic Services were worth $1,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in shares of Republic Services during the 3rd quarter worth approximately $25,000. Wolff Wiese Magana LLC boosted its position 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 worth $28,000 after purchasing an additional 109 shares during the last quarter. Webster Bank N. A. bought a new position in Republic Services in the 3rd quarter valued at $31,000. Truvestments Capital LLC purchased a new stake in shares of Republic Services during the 3rd quarter valued at $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 institutional investors.

Republic Services Stock Up 0.5 %

Shares of NYSE RSG opened at $214.87 on Wednesday. The business has a 50-day moving average of $209.31 and a 200-day moving average of $204.74. The firm has a market capitalization of $67.29 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 3.09 and a beta of 0.73. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 12 month low of $167.51 and a 12 month high of $220.58.

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

Insider Activity

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares in the company, valued at $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RSG. Scotiabank assumed coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and raised their target price for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Morgan Stanley upped their price target 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. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $219.00 to $237.00 in a report on Monday, January 6th. Finally, Oppenheimer boosted their price target 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. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.12.

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.