PNC Financial Services Group Inc. Sells 16,958 Shares of Republic Services, Inc. (NYSE:RSG)

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PNC Financial Services Group Inc. lowered its stake in Republic Services, Inc. (NYSE:RSG) by 34.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 31,827 shares of the business services provider’s stock after selling 16,958 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Republic Services were worth $2,558,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RSG. Independent Advisor Alliance lifted its position in Republic Services by 201.6% in the 1st quarter. Independent Advisor Alliance now owns 12,038 shares of the business services provider’s stock valued at $968,000 after acquiring an additional 8,046 shares in the last quarter. First Hawaiian Bank lifted its holdings in shares of Republic Services by 26.0% during the 1st quarter. First Hawaiian Bank now owns 7,877 shares of the business services provider’s stock valued at $633,000 after buying an additional 1,625 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Republic Services by 49.0% during the 4th quarter. California Public Employees Retirement System now owns 1,179,278 shares of the business services provider’s stock valued at $85,014,000 after buying an additional 387,583 shares during the period. Duality Advisers LP bought a new position in shares of Republic Services during the 4th quarter valued at $3,470,000. Finally, Legacy Capital Partners Inc. lifted its holdings in shares of Republic Services by 9.6% during the 1st quarter. Legacy Capital Partners Inc. now owns 21,090 shares of the business services provider’s stock valued at $1,695,000 after buying an additional 1,850 shares during the period. Institutional investors own 58.95% of the company’s stock.

In related news, EVP Brian A. Bales sold 22,831 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $82.67, for a total value of $1,887,438.77. Following the transaction, the executive vice president now directly owns 23,804 shares of the company’s stock, valued at approximately $1,967,876.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ramon A. Rodriguez sold 5,480 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $79.75, for a total value of $437,030.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,575 shares of company stock worth $12,472,125. 0.30% of the stock is owned by insiders.

RSG has been the topic of several research analyst reports. Zacks Investment Research cut Republic Services from a “hold” rating to a “sell” rating in a report on Monday, April 15th. UBS Group increased their price target on Republic Services from $79.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Stifel Nicolaus cut Republic Services from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a report on Thursday, April 11th. Royal Bank of Canada initiated coverage on Republic Services in a report on Wednesday, May 1st. They set a “sector perform” rating and a $87.00 price target on the stock. Finally, Bank of America reissued a “neutral” rating and set a $85.00 price target (up from $79.00) on shares of Republic Services in a report on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $81.97.

NYSE RSG opened at $86.82 on Thursday. The firm has a market cap of $27.71 billion, a PE ratio of 28.10, a PEG ratio of 2.81 and a beta of 0.53. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.86. Republic Services, Inc. has a 1-year low of $67.48 and a 1-year high of $87.49.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, April 25th. The business services provider reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. Republic Services had a return on equity of 12.72% and a net margin of 10.25%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the firm earned $0.74 EPS. Republic Services’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts forecast that Republic Services, Inc. will post 3.23 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.375 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.50 dividend on an annualized basis and a yield of 1.73%. Republic Services’s dividend payout ratio is currently 48.54%.

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Republic Services Profile

Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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