Pacer Advisors Inc. Sells 1,751 Shares of Republic Services, Inc. (NYSE:RSG)

Pacer Advisors Inc. lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,280 shares of the business services provider’s stock after selling 1,751 shares during the period. Pacer Advisors Inc.’s holdings in Republic Services were worth $6,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. Wells Fargo & Company MN increased its position in Republic Services by 4.4% during the 4th quarter. Wells Fargo & Company MN now owns 247,955 shares of the business services provider’s stock valued at $40,890,000 after buying an additional 10,509 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of Republic Services in the 4th quarter worth $446,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Republic Services by 12.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 62,408 shares of the business services provider’s stock worth $10,292,000 after purchasing an additional 6,776 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Republic Services in the 4th quarter worth $50,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Republic Services by 8.7% in the 4th quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock worth $75,297,000 after purchasing an additional 36,484 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the subject of a number of research analyst reports. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Robert W. Baird lifted their target price on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. CIBC lifted their target price on Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. Finally, Stifel Nicolaus lifted their price objective on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $211.00.

Republic Services Stock Performance

NYSE:RSG opened at $202.81 on Tuesday. The stock has a 50-day simple moving average of $202.31 and a two-hundred day simple moving average of $193.99. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $208.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $63.87 billion, a PE ratio of 35.58, a P/E/G ratio of 3.30 and a beta of 0.70.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. Analysts forecast that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a $0.58 dividend. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.14%. Republic Services’s dividend payout ratio is 40.70%.

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.