Allstate Corp Acquires 6,905 Shares of Republic Services, Inc. $RSG

Allstate Corp raised its stake in Republic Services, Inc. (NYSE:RSG) by 728.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,853 shares of the business services provider’s stock after acquiring an additional 6,905 shares during the period. Allstate Corp’s holdings in Republic Services were worth $1,802,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bowen Hanes & Co. Inc. lifted its holdings in Republic Services by 7.3% in the 2nd quarter. Bowen Hanes & Co. Inc. now owns 254,540 shares of the business services provider’s stock valued at $62,772,000 after purchasing an additional 17,280 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Republic Services by 32.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 23,211 shares of the business services provider’s stock valued at $5,326,000 after purchasing an additional 5,740 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Republic Services by 60.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 12,665 shares of the business services provider’s stock valued at $2,906,000 after acquiring an additional 4,750 shares during the period. Valley National Advisers Inc. lifted its stake in shares of Republic Services by 148,250.0% in the 3rd quarter. Valley National Advisers Inc. now owns 8,901 shares of the business services provider’s stock worth $2,042,000 after acquiring an additional 8,895 shares during the period. Finally, Nebula Research & Development LLC purchased a new position in shares of Republic Services in the 2nd quarter valued at about $1,880,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Down 0.2%

RSG opened at $210.55 on Wednesday. The business has a 50 day moving average price of $212.82 and a 200 day moving average price of $223.11. Republic Services, Inc. has a twelve month low of $201.42 and a twelve month high of $258.75. The firm has a market cap of $65.18 billion, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 3.45 and a beta of 0.55. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.78 by $0.12. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same period in the previous year, the business posted $1.81 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RSG shares. Sanford C. Bernstein lifted their price objective on Republic Services from $205.00 to $220.00 and gave the stock a “market perform” rating in a research report on Monday, January 5th. National Bankshares dropped their target price on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. UBS Group set a $220.00 price objective on shares of Republic Services in a research note on Monday, January 5th. Wells Fargo & Company began coverage on Republic Services in a research note on Thursday, November 13th. They set an “overweight” rating and a $238.00 target price on the stock. Finally, Stifel Nicolaus cut their price objective on Republic Services from $257.00 to $251.00 and set a “buy” rating for the company in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.05.

Insider Buying and Selling at Republic Services

In other news, Director Katharine Weymouth purchased 478 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was purchased at an average cost of $209.46 per share, with a total value of $100,121.88. Following the acquisition, the director directly owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. This trade represents a 9.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.