Pacer Advisors Inc. Sells 7,852 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• Pacer Advisors Inc. decreased its stake in Republic Services by 28.7% during the first quarter, now holding 19,466 shares valued at $4.71 million.
• Republic Services announced a quarterly dividend of $0.625 per share, a boost from the previous $0.58, set to be paid on October 15th.
• Analysts have set an average price target of $258.16 for Republic Services, with many maintaining a "buy" or "hold" rating.

Pacer Advisors Inc. reduced its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 28.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,466 shares of the business services provider's stock after selling 7,852 shares during the period. Pacer Advisors Inc.'s holdings in Republic Services were worth $4,714,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its position in shares of Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after purchasing an additional 106 shares during the last quarter. Key Financial Inc boosted its stake in Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after purchasing an additional 99 shares during the period. New Age Alpha Advisors LLC grew its holdings in Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after buying an additional 73 shares during the last quarter. Park Square Financial Group LLC bought a new position in Republic Services in the 4th quarter worth approximately $44,000. Finally, Proathlete Wealth Management LLC acquired a new position in shares of Republic Services during the first quarter worth approximately $76,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Price Performance

Shares of RSG traded up $0.68 during trading hours on Friday, hitting $231.33. The stock had a trading volume of 651,142 shares, compared to its average volume of 1,297,401. Republic Services, Inc. has a 52 week low of $193.75 and a 52 week high of $258.75. The stock has a market capitalization of $72.29 billion, a price-to-earnings ratio of 34.23, a P/E/G ratio of 3.54 and a beta of 0.61. The company's fifty day moving average is $246.25 and its two-hundred day moving average is $238.22. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.01. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company's revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $1.61 earnings per share. On average, analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio is 34.99%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RSG. Melius initiated coverage on shares of Republic Services in a research report on Monday, June 9th. They set a "hold" rating on the stock. Oppenheimer boosted their price objective on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. UBS Group set a $260.00 price objective on shares of Republic Services and gave the company a "neutral" rating in a research report on Wednesday. Wall Street Zen lowered Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Citigroup upped their price target on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $258.89.

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.