Citigroup Inc. increased its position in Republic Services, Inc. (NYSE:RSG – Free Report) by 24.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 376,888 shares of the business services provider’s stock after acquiring an additional 75,237 shares during the period. Citigroup Inc. owned about 0.12% of Republic Services worth $53,710,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of RSG. Coldstream Capital Management Inc. grew its holdings in Republic Services by 2.7% during the second quarter. Coldstream Capital Management Inc. now owns 2,680 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 71 shares during the period. FinTrust Capital Advisors LLC grew its stake in shares of Republic Services by 56.3% during the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after buying an additional 71 shares during the last quarter. Spire Wealth Management grew its stake in shares of Republic Services by 2.1% during the second quarter. Spire Wealth Management now owns 3,621 shares of the business services provider’s stock valued at $555,000 after buying an additional 74 shares during the last quarter. Sound View Wealth Advisors Group LLC grew its stake in shares of Republic Services by 4.0% during the third quarter. Sound View Wealth Advisors Group LLC now owns 1,968 shares of the business services provider’s stock valued at $280,000 after buying an additional 75 shares during the last quarter. Finally, Cassia Capital Partners LLC grew its stake in Republic Services by 2.7% in the third quarter. Cassia Capital Partners LLC now owns 2,870 shares of the business services provider’s stock worth $409,000 after purchasing an additional 76 shares in the last quarter. Institutional investors own 57.23% of the company’s stock.
Republic Services Price Performance
RSG stock opened at $173.49 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.58 and a quick ratio of 0.58. The business has a 50 day simple moving average of $166.41 and a 200-day simple moving average of $155.52. The firm has a market capitalization of $54.59 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 2.89 and a beta of 0.67. Republic Services, Inc. has a 1 year low of $124.27 and a 1 year high of $175.35.
Republic Services Announces Dividend
Republic Services announced that its board has initiated a share repurchase plan on Thursday, October 26th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Citigroup increased their price objective on Republic Services from $178.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Wells Fargo & Company boosted their price objective on Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Oppenheimer lifted their price target on Republic Services from $172.00 to $182.00 and gave the company an “outperform” rating in a research note on Friday, January 12th. UBS Group upgraded Republic Services from a “neutral” rating to a “buy” rating and lifted their price target for the company from $155.00 to $175.00 in a research note on Monday, October 23rd. Finally, Stifel Nicolaus lifted their price target on Republic Services from $175.00 to $187.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $169.33.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.
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