Pinnacle Financial Partners Inc Has $980,000 Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Pinnacle Financial Partners Inc decreased its position in Republic Services, Inc. (NYSE:RSG) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,882 shares of the business services provider’s stock after selling 268 shares during the period. Pinnacle Financial Partners Inc’s holdings in Republic Services were worth $980,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital World Investors increased its stake in Republic Services by 20.5% in the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after acquiring an additional 1,346,588 shares during the period. M&G Plc bought a new stake in shares of Republic Services in the 1st quarter valued at approximately $130,892,000. International Assets Investment Management LLC raised its holdings in shares of Republic Services by 83,671.9% in the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock worth $108,183,000 after buying an additional 538,010 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Republic Services by 16.9% during the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after buying an additional 182,645 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Republic Services by 1,946.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider’s stock valued at $26,484,000 after buying an additional 129,619 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of RSG opened at $209.46 on Friday. The firm has a market cap of $65.59 billion, a P/E ratio of 33.51, a PEG ratio of 3.28 and a beta of 0.70. Republic Services, Inc. has a twelve month low of $156.83 and a twelve month high of $216.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The firm’s 50 day moving average price is $203.66 and its two-hundred day moving average price is $197.79.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 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 net margin of 12.46% and a return on equity of 18.18%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 EPS. On average, analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio is presently 37.12%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RSG. BMO Capital Markets increased their price objective on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. StockNews.com downgraded Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Scotiabank initiated coverage on Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price for the company. Royal Bank of Canada upped their price target on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Finally, CIBC upped their price objective on Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.