We can judge whether Republic Services, Inc. (NYSE:RSG) is a good investment right now by following the lead of some of the best investors in the world and piggybacking their ideas. There’s no better way to get these firms’ immense resources and analytical capabilities working for us than to follow their lead into their best ideas. While not all of these picks will be winners, research shows that these picks historically outperformed the market when we factor in known risk factors.
Republic Services shares haven’t seen a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 30 hedge funds’ portfolios at the end of September. At the end of this article we will also compare RSG to other stocks, including Coca-Cola FEMSA, S.A.B. de C.V. (ADR) (NYSE:KOF), Hess Corp. (NYSE:HES), and Mead Johnson Nutrition CO (NYSE:MJN) to get a better sense of its popularity.
To the average investor there are a large number of metrics investors employ to evaluate their holdings. Two of the best metrics are hedge fund and insider trading sentiment. Our researchers have shown that, historically, those who follow the top picks of the elite fund managers can outpace the S&P 500 by a healthy margin (see the details here).
With all of this in mind, let’s go over the latest action regarding Republic Services, Inc. (NYSE:RSG).
How have hedgies been trading Republic Services, Inc. (NYSE:RSG)?
At the end of the third quarter, a total of 30 of the hedge funds tracked by Insider Monkey held long positions in this stock, unchanged from the second quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were boosting their holdings significantly (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, GAMCO Investors, managed by Mario Gabelli, holds the biggest position in Republic Services, Inc. (NYSE:RSG). GAMCO Investors has a $124 million position in the stock, comprising 0.8% of its 13F portfolio. On GAMCO Investors’s heels is Cliff Asness’ AQR Capital Management, with a $52.2 million position; 0.1% of its 13F portfolio is allocated to the stock. Remaining peers that are bullish include Anand Parekh’s Alyeska Investment Group, Jim Simons’ Renaissance Technologies and Israel Englander’s Millennium Management.