Pacer Advisors Inc. Has $7.96 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Pacer Advisors Inc. boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 15.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,614 shares of the business services provider’s stock after purchasing an additional 5,334 shares during the quarter. Pacer Advisors Inc.’s holdings in Republic Services were worth $7,956,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RSG. EntryPoint Capital LLC acquired a new stake in Republic Services during the first quarter worth about $29,000. CreativeOne Wealth LLC acquired a new position in shares of Republic Services in the first quarter valued at $333,000. Lazard Asset Management LLC lifted its position in Republic Services by 13.0% in the first quarter. Lazard Asset Management LLC now owns 32,573 shares of the business services provider’s stock worth $6,235,000 after purchasing an additional 3,735 shares during the period. BOKF NA boosted its stake in Republic Services by 2.2% during the first quarter. BOKF NA now owns 10,020 shares of the business services provider’s stock worth $1,902,000 after buying an additional 219 shares in the last quarter. Finally, SVB Wealth LLC increased its holdings in Republic Services by 17.3% in the 1st quarter. SVB Wealth LLC now owns 8,201 shares of the business services provider’s stock valued at $1,570,000 after buying an additional 1,212 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on RSG shares. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. William Blair started coverage on Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Morgan Stanley boosted their price target 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. Scotiabank initiated coverage on Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective for the company. Finally, TD Cowen boosted their target price on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Stock Performance

Shares of Republic Services stock opened at $216.79 on Friday. The firm has a market cap of $67.89 billion, a P/E ratio of 34.69, a P/E/G ratio of 3.27 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $204.56 and a 200 day simple moving average of $198.93. Republic Services, Inc. has a fifty-two week low of $159.10 and a fifty-two week high of $216.86.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 earnings per share. Sell-side analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

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

Insider Buying and Selling at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was 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 represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

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.