Republic Services, Inc. (NYSE:RSG) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,006 shares of the business services provider’s stock after selling 442 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Republic Services were worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Wolff Wiese Magana LLC lifted its stake in Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after purchasing an additional 109 shares during the last quarter. EntryPoint Capital LLC bought a new position in Republic Services during the first quarter worth $29,000. Webster Bank N. A. bought a new position in Republic Services during the third quarter worth $31,000. Itau Unibanco Holding S.A. bought a new position in Republic Services during the second quarter worth $36,000. Finally, Indiana Trust & Investment Management CO bought a new position in Republic Services during the second quarter worth $45,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Price Performance

NYSE:RSG opened at $198.58 on Friday. The business’s 50-day moving average price is $203.43 and its 200 day moving average price is $196.74. The firm has a market cap of $62.37 billion, a P/E ratio of 31.77, a PEG ratio of 3.17 and a beta of 0.69. Republic Services, Inc. has a 52-week low of $148.36 and a 52-week high of $208.69. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.19. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.54 EPS. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.23 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.17%. Republic Services’s payout ratio is presently 37.12%.

Insiders Place Their Bets

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of recent research reports. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. CIBC raised their target price on Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday. Oppenheimer raised their target price on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday. Robert W. Baird raised their target price on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Scotiabank assumed coverage on Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $215.71.

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.