PNC Financial Services Group Inc. Trims Holdings in Republic Services, Inc. (NYSE:RSG)

PNC Financial Services Group Inc. decreased its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,193 shares of the business services provider's stock after selling 1,349 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Republic Services were worth $9,695,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new position in Republic Services during the 3rd quarter worth $25,000. Arcadia Investment Management Corp MI raised its position in Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock worth $27,000 after buying an additional 88 shares during the last quarter. R Squared Ltd purchased a new position in Republic Services during the 4th quarter worth $32,000. Truvestments Capital LLC purchased a new position in Republic Services during the 3rd quarter worth $34,000. Finally, Ashton Thomas Securities LLC purchased a new position in Republic Services during the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

NYSE:RSG opened at $231.92 on Wednesday. The firm has a market cap of $72.43 billion, a price-to-earnings ratio of 35.74, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 12-month low of $180.91 and a 12-month high of $240.95. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The company's 50-day moving average is $220.16 and its two-hundred day moving average is $211.24.

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Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.21. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same period in the prior year, the firm posted $1.41 EPS. Research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 1.00%. Republic Services's payout ratio is 35.75%.

Insider Activity at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on RSG shares. Cibc World Mkts upgraded shares of Republic Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Stifel Nicolaus upped their price target on shares of Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Morgan Stanley upped their price target on shares of Republic Services from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Truist Financial reaffirmed a "buy" rating and set a $250.00 price target (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Finally, Royal Bank of Canada raised shares of Republic Services from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $219.00 to $237.00 in a research note on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $236.88.

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.

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