Bessemer Group Inc. Has $169.77 Million Position in Republic Services, Inc. $RSG

Bessemer Group Inc. increased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 7,683.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 739,792 shares of the business services provider’s stock after purchasing an additional 730,287 shares during the period. Bessemer Group Inc.’s holdings in Republic Services were worth $169,768,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of Republic Services by 75.8% in the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after acquiring an additional 8,547 shares during the period. Valeo Financial Advisors LLC raised its stake in Republic Services by 4.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,505 shares of the business services provider’s stock valued at $618,000 after purchasing an additional 99 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in Republic Services by 1.3% in the 2nd quarter. Belpointe Asset Management LLC now owns 5,900 shares of the business services provider’s stock valued at $1,455,000 after purchasing an additional 73 shares during the period. SteelPeak Wealth LLC acquired a new stake in Republic Services in the 2nd quarter worth $343,000. Finally, KLP Kapitalforvaltning AS increased its holdings in shares of Republic Services by 2.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 102,534 shares of the business services provider’s stock worth $25,286,000 after purchasing an additional 2,700 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RSG. Robert W. Baird set a $240.00 target price on shares of Republic Services in a research note on Friday, October 31st. Stifel Nicolaus cut their price target on Republic Services from $257.00 to $251.00 and set a “buy” rating for the company in a report on Friday, October 31st. 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 report on Monday, January 5th. JPMorgan Chase & Co. lowered their price objective on Republic Services from $260.00 to $233.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Finally, Oppenheimer reduced their target price on Republic Services from $256.00 to $255.00 and set an “outperform” rating for the company in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $248.82.

Republic Services Trading Up 1.9%

Shares of RSG opened at $218.03 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock has a market cap of $67.49 billion, a PE ratio of 32.44, a PEG ratio of 3.49 and a beta of 0.54. Republic Services, Inc. has a 1 year low of $201.42 and a 1 year high of $258.75. The stock has a 50 day simple moving average of $213.41 and a 200-day simple moving average of $221.33.

Insider Activity

In related news, Director Katharine Weymouth acquired 478 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was bought at an average cost of $209.46 per share, with a total value of $100,121.88. Following the completion of the acquisition, the director owned 5,740 shares in the company, valued at $1,202,300.40. The trade was a 9.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.

Republic Services Company 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.