Pacer Advisors Inc. Has $4.54 Million Stock Position in Republic Services, Inc. $RSG

Key Points

• Pacer Advisors increased its stake in Republic Services by 30.3% in the fourth quarter, ending with 21,421 shares valued at about $4.54 million.
• Republic Services saw notable insider activity: Cascade Investment bought 366,000 shares, while Director Sandra M. Volpe sold 1,800 shares. Insiders acquired a net total of 987,150 shares in the last quarter.
• The company reported better-than-expected quarterly earnings of $1.70 per share and revenue of $4.11 billion, and it also announced a quarterly dividend of $0.625 per share, or $2.50 annualized.

Pacer Advisors Inc. raised its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 30.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,421 shares of the business services provider's stock after acquiring an additional 4,978 shares during the quarter. Pacer Advisors Inc.'s holdings in Republic Services were worth $4,540,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in RSG. CBIZ Investment Advisory Services LLC increased its stake in Republic Services by 11.3% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 445 shares of the business services provider's stock valued at $94,000 after buying an additional 45 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Republic Services by 0.5% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,454 shares of the business services provider's stock worth $2,216,000 after buying an additional 48 shares during the last quarter. Williams Jones Wealth Management LLC. grew its holdings in shares of Republic Services by 2.6% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,925 shares of the business services provider's stock valued at $408,000 after acquiring an additional 49 shares in the last quarter. ICONIQ Capital LLC increased its position in shares of Republic Services by 3.3% in the second quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider's stock valued at $384,000 after acquiring an additional 50 shares during the last quarter. Finally, Composition Wealth LLC raised its holdings in Republic Services by 1.4% during the fourth quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider's stock worth $804,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

Insider Buying and Selling at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the purchase, the insider owned 110,315,982 shares of the company's stock, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the sale, the director owned 58 shares of the company's stock, valued at $12,254.24. This trade represents a 96.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have acquired a total of 987,150 shares of company stock worth $202,366,682 in the last quarter. Company insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on Republic Services from $238.00 to $252.00 and gave the company an "overweight" rating in a research note on Wednesday, March 18th. Wolfe Research assumed coverage on Republic Services in a research note on Friday, March 13th. They set a "peer perform" rating on the stock. Weiss Ratings cut shares of Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 29th. Barclays boosted their target price on shares of Republic Services from $227.00 to $233.00 and gave the stock an "equal weight" rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Republic Services from $233.00 to $245.00 and gave the stock a "neutral" rating in a research report on Friday, April 10th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Republic Services currently has an average rating of "Moderate Buy" and a consensus target price of $243.26.

Republic Services Stock Down 0.1%

Shares of RSG opened at $204.68 on Tuesday. The firm has a market cap of $62.97 billion, a P/E ratio of 29.37, a price-to-earnings-growth ratio of 3.37 and a beta of 0.41. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $251.17. The firm's 50-day simple moving average is $207.20 and its 200 day simple moving average is $214.12.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.10 billion. During the same quarter in the previous year, the company posted $1.58 earnings per share. The business's revenue was up 2.6% on a year-over-year basis. On average, analysts forecast that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services's dividend payout ratio is currently 36.15%.

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.

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