Perigon Wealth Management LLC Boosts Stake in Republic Services, Inc. (NYSE:RSG)

Perigon Wealth Management LLC increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,166 shares of the business services provider’s stock after purchasing an additional 145 shares during the quarter. Perigon Wealth Management LLC’s holdings in Republic Services were worth $247,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RSG. Buffington Mohr McNeal lifted its position in shares of Republic Services by 3.8% in the fourth quarter. Buffington Mohr McNeal now owns 41,834 shares of the business services provider’s stock valued at $8,416,000 after acquiring an additional 1,528 shares in the last quarter. Heirloom Wealth Management grew its stake in shares of Republic Services by 7.1% in the fourth quarter. Heirloom Wealth Management now owns 80,906 shares of the business services provider’s stock valued at $16,277,000 after buying an additional 5,398 shares in the last quarter. Cornerstone Wealth Group LLC grew its stake in shares of Republic Services by 1.5% in the fourth quarter. Cornerstone Wealth Group LLC now owns 19,757 shares of the business services provider’s stock valued at $3,975,000 after buying an additional 295 shares in the last quarter. KBC Group NV grew its stake in Republic Services by 133.5% during the 4th quarter. KBC Group NV now owns 211,259 shares of the business services provider’s stock valued at $42,501,000 after purchasing an additional 120,769 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in Republic Services during the 4th quarter valued at approximately $30,676,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of Republic Services stock opened at $216.82 on Monday. The firm has a fifty day moving average of $209.77 and a two-hundred day moving average of $205.71. The stock has a market capitalization of $67.90 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 3.11 and a beta of 0.73. Republic Services, Inc. has a 52 week low of $169.83 and a 52 week high of $220.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $211.00 to $238.00 in a report on Friday, December 6th. CIBC lifted their target price on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Truist Financial raised their target price on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised 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 research report on Tuesday, December 10th. Finally, Oppenheimer boosted their price target on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.24.

Insider Activity at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now owns 879 shares of the company’s stock, 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. 0.09% of the stock is owned by corporate insiders.

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.