Republic Services, Inc. $RSG Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its stake in Republic Services, Inc. (NYSE:RSG) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,614 shares of the business services provider’s stock after purchasing an additional 1,342 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Republic Services were worth $12,728,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in Republic Services during the 1st quarter valued at $198,685,000. M&G PLC lifted its holdings in shares of Republic Services by 113.0% in the second quarter. M&G PLC now owns 1,164,656 shares of the business services provider’s stock valued at $287,670,000 after buying an additional 617,939 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Republic Services by 118.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 806,409 shares of the business services provider’s stock valued at $198,869,000 after buying an additional 437,190 shares in the last quarter. National Pension Service grew its holdings in Republic Services by 112.0% during the second quarter. National Pension Service now owns 749,603 shares of the business services provider’s stock worth $184,860,000 after acquiring an additional 396,041 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Republic Services by 27.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,763,333 shares of the business services provider’s stock worth $427,009,000 after acquiring an additional 384,695 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Sanford C. Bernstein began coverage on shares of Republic Services in a report on Wednesday. They set a “market perform” rating and a $205.00 target price for the company. Raymond James Financial reissued an “outperform” rating and set a $240.00 price objective on shares of Republic Services in a research note on Friday, October 31st. BMO Capital Markets boosted their target price on Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Barclays started coverage on Republic Services in a research report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price target for the company. Finally, Robert W. Baird set a $240.00 price objective on Republic Services in a report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $250.91.

Insider Activity

In related news, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total value of $1,716,651.72. Following the completion of the sale, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the acquisition, the insider directly owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.11% of the company’s stock.

Republic Services Stock Up 1.8%

Shares of Republic Services stock opened at $209.74 on Friday. The firm has a market cap of $64.93 billion, a price-to-earnings ratio of 31.03, a P/E/G ratio of 3.40 and a beta of 0.57. The stock has a 50-day simple moving average of $220.23 and a 200-day simple moving average of $235.08. Republic Services, Inc. has a 52-week low of $199.43 and a 52-week high of $258.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66.

Republic Services (NYSE:RSG) last posted its earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.12. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same period last year, the company earned $1.81 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s dividend payout ratio is 37.20%.

Republic Services Profile

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.