CIBC World Markets Inc. boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 14.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,439 shares of the business services provider’s stock after acquiring an additional 2,005 shares during the quarter. CIBC World Markets Inc.’s holdings in Republic Services were worth $1,044,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its position in Republic Services by 507.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,823 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 1,523 shares in the last quarter. Welch & Forbes LLC bought a new position in Republic Services during the fourth quarter valued at approximately $201,000. Cetera Investment Advisers bought a new position in Republic Services during the second quarter valued at approximately $211,000. First Allied Advisory Services Inc. bought a new position in Republic Services during the second quarter valued at approximately $224,000. Finally, Advisory Services Network LLC raised its position in Republic Services by 6.3% during the second quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock valued at $241,000 after acquiring an additional 223 shares in the last quarter. 59.57% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on the stock. Bank of America raised their price objective on shares of Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. BMO Capital Markets dropped their price target on shares of Republic Services from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, November 6th. Stifel Nicolaus raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the company from $70.00 to $73.00 in a research report on Thursday, January 4th. Finally, Credit Suisse Group dropped their price target on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Republic Services currently has an average rating of “Hold” and an average price target of $69.14.
Republic Services, Inc. (RSG) opened at $64.94 on Tuesday. Republic Services, Inc. has a 52-week low of $57.31 and a 52-week high of $69.40. The company has a market cap of $22,807.48, a P/E ratio of 27.52, a PEG ratio of 3.00 and a beta of 0.53. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.54 and a quick ratio of 0.51.
Republic Services announced that its Board of Directors has initiated a stock repurchase program on Thursday, November 2nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, CAO Brian A. Goebel sold 1,220 shares of Republic Services stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $68.06, for a total value of $83,033.20. Following the transaction, the chief accounting officer now owns 7,406 shares of the company’s stock, valued at $504,052.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Brian A. Goebel sold 1,290 shares of Republic Services stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $68.44, for a total transaction of $88,287.60. Following the completion of the transaction, the chief accounting officer now directly owns 6,696 shares in the company, valued at approximately $458,274.24. The disclosure for this sale can be found here. In the last three months, insiders sold 137,063 shares of company stock worth $8,816,258. Insiders own 0.40% of the company’s stock.
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Republic Services Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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