Republic Services, Inc. (NYSE:RSG) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,542 shares of the business services provider’s stock after purchasing an additional 2,082 shares during the period. PNC Financial Services Group Inc.’s holdings in Republic Services were worth $9,950,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after acquiring an additional 57,040 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after purchasing an additional 92,013 shares during the period. TD Asset Management Inc increased its stake in Republic Services by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after purchasing an additional 35,650 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Republic Services by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after buying an additional 3,809 shares in the last quarter. Finally, Earnest Partners LLC boosted its holdings in shares of Republic Services by 1.9% in the second quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider’s stock worth $249,932,000 after buying an additional 23,534 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the 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 in the company, valued at approximately $1,326,906.36. This trade represents a 44.53 % 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. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on RSG. CIBC upped their price target on shares of Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their target price on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley lifted their target price on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Scotiabank began coverage on shares of Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

Republic Services Stock Performance

NYSE:RSG opened at $216.79 on Friday. The firm has a market capitalization of $67.89 billion, a PE ratio of 34.69, a PEG ratio of 3.22 and a beta of 0.70. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 1 year low of $159.10 and a 1 year high of $216.86. The firm’s fifty day simple moving average is $204.56 and its 200 day simple moving average is $198.86.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the company posted $1.54 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. Republic Services’s payout ratio is 37.12%.

Republic Services Company 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.