Longboard Asset Management LP Acquires New Stake in Republic Services, Inc. (NYSE:RSG)

Longboard Asset Management LP 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 Securities and Exchange Commission. The firm bought 1,103 shares of the business services provider’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FSA Wealth Management LLC purchased a new stake in Republic Services in the 3rd quarter valued at approximately $25,000. Wolff Wiese Magana LLC lifted its holdings in shares of Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after buying an additional 109 shares during the period. Webster Bank N. A. purchased a new stake in shares of Republic Services in the third quarter valued at approximately $31,000. R Squared Ltd acquired a new position in Republic Services during the fourth quarter worth $32,000. Finally, Truvestments Capital LLC acquired a new stake in Republic Services in the third quarter valued at $34,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now directly owns 879 shares in the company, valued at $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RSG shares. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Morgan Stanley upped their price target on Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Truist Financial lifted their price objective on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. CIBC upped their target price on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $222.24.

Republic Services Stock Up 2.0 %

Shares of NYSE RSG opened at $221.31 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. Republic Services, Inc. has a 1 year low of $171.06 and a 1 year high of $221.75. The stock’s 50-day simple moving average is $209.77 and its 200-day simple moving average is $205.71. The firm has a market cap of $69.30 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 3.17 and a beta of 0.74.

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.