Strengthening Families & Communities LLC Acquires 14,300 Shares of Republic Services, Inc. $RSG

Strengthening Families & Communities LLC raised its holdings in Republic Services, Inc. (NYSE:RSG) by 2,744.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,821 shares of the business services provider’s stock after purchasing an additional 14,300 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Republic Services were worth $3,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RSG. Norges Bank acquired a new stake in shares of Republic Services in the 2nd quarter valued at $690,313,000. M&G PLC boosted its position in shares of Republic Services by 113.0% in the 2nd quarter. M&G PLC now owns 1,164,656 shares of the business services provider’s stock worth $287,670,000 after purchasing an additional 617,939 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in Republic Services by 174.6% in the second quarter. Qube Research & Technologies Ltd now owns 685,448 shares of the business services provider’s stock valued at $169,038,000 after purchasing an additional 435,816 shares in the last quarter. Invesco Ltd. increased its position in shares of Republic Services by 21.3% in the 2nd quarter. Invesco Ltd. now owns 2,325,302 shares of the business services provider’s stock valued at $573,443,000 after buying an additional 408,885 shares in the last quarter. Finally, National Pension Service raised its stake in Republic Services by 112.0% during the 2nd quarter. National Pension Service now owns 749,603 shares of the business services provider’s stock worth $184,860,000 after buying an additional 396,041 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RSG. JPMorgan Chase & Co. reduced their target price on shares of Republic Services from $260.00 to $233.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. The Goldman Sachs Group began coverage on Republic Services in a research report on Monday, November 24th. They issued a “buy” rating and a $255.00 target price on the stock. Raymond James Financial reiterated an “outperform” rating and set a $240.00 target price on shares of Republic Services in a report on Friday, October 31st. Robert W. Baird set a $240.00 target price on shares of Republic Services in a report on Friday, October 31st. Finally, Wells Fargo & Company initiated coverage on shares of Republic Services in a research note on Thursday, November 13th. They issued an “overweight” rating and a $238.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.82.

Insider Activity

In related news, Director Katharine Weymouth purchased 478 shares of Republic Services stock in a transaction dated Tuesday, December 9th. The shares were bought at an average cost of $209.46 per share, for a total transaction of $100,121.88. Following the purchase, the director owned 5,740 shares in the company, valued at approximately $1,202,300.40. This trade represents a 9.08% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

Republic Services Trading Up 0.3%

RSG opened at $215.73 on Tuesday. The company has a 50-day simple moving average of $213.47 and a 200 day simple moving average of $221.54. The stock has a market capitalization of $66.78 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 3.51 and a beta of 0.54. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a twelve month low of $201.42 and a twelve month high of $258.75.

Republic Services Profile

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.