Portfolio Design Labs LLC Invests $281,000 in Republic Services, Inc. (NYSE:RSG)

Portfolio Design Labs LLC bought a new position in Republic Services, Inc. (NYSE:RSG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,399 shares of the business services provider’s stock, valued at approximately $281,000.

Several other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of 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 worth $1,205,883,000 after acquiring an additional 1,131,850 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Republic Services by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock worth $903,316,000 after acquiring an additional 73,207 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after buying an additional 509,116 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in 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 valued at $506,265,000 after buying an additional 57,040 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings 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 in the last quarter. Institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RSG shares. Oppenheimer lifted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” 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 price objective for the company from $211.00 to $238.00 in a report on Friday, December 6th. CIBC lifted their price objective on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price objective for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. Finally, Jefferies Financial Group raised their target price on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.38.

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were 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. The trade was a 67.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents 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.

Republic Services Stock Up 0.1 %

Shares of Republic Services stock opened at $223.38 on Thursday. The firm’s 50 day moving average price is $210.32 and its 200-day moving average price is $206.82. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 52-week low of $172.23 and a 52-week high of $224.45. The company has a market cap of $69.95 billion, a P/E ratio of 35.74, a PEG ratio of 3.24 and a beta of 0.74.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is currently 37.12%.

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.