ProShare Advisors LLC Sells 4,720 Shares of Republic Services, Inc. $RSG

ProShare Advisors LLC decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 13.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,455 shares of the business services provider’s stock after selling 4,720 shares during the period. ProShare Advisors LLC’s holdings in Republic Services were worth $6,392,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Republic Services during the second quarter worth about $3,798,092,000. Bank of America Corp DE acquired a new stake in shares of Republic Services in the 2nd quarter worth about $682,573,000. Legal & General Group Plc bought a new position in Republic Services in the 2nd quarter valued at about $245,506,000. Deutsche Bank AG bought a new position in Republic Services in the 2nd quarter valued at about $236,628,000. Finally, Bank of New York Mellon Corp acquired a new position in Republic Services during the 2nd quarter valued at about $220,527,000. 57.73% of the stock is owned by institutional investors.

Republic Services Trading Up 1.0%

Shares of RSG stock opened at $245.35 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.64 and a current ratio of 0.75. The company has a market capitalization of $74.74 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 4.04 and a beta of 0.32. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $249.37. The company has a 50-day simple moving average of $223.85 and a two-hundred day simple moving average of $217.32.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, October 29th. The business services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.93 by $0.01. Republic Services had a net margin of 12.93% and a return on equity of 18.56%. The firm had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter last year, the firm earned $1.90 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Research analysts anticipate that Republic Services, Inc. will post 7.26 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, January 4th. Republic Services’s dividend payout ratio (DPR) is presently 37.07%.

Analysts Set New Price Targets

A number of brokerages have commented on RSG. UBS Group boosted their price objective on Republic Services from $233.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Royal Bank Of Canada raised their target price on Republic Services from $272.00 to $277.00 and gave the company an “outperform” rating in a report on Friday, October 30th. Robert W. Baird lifted their target price on Republic Services from $242.00 to $245.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd. JPMorgan Chase & Co. upped their price target on Republic Services from $245.00 to $265.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Finally, Citigroup increased their price target on Republic Services from $259.00 to $281.00 and gave the company a “buy” rating in a research report on Monday. Twelve equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.32.

Insiders Place Their Bets

In other Republic Services news, EVP Brian Bales sold 3,400 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $244.00, for a total value of $829,600.00. Following the transaction, the executive vice president owned 17,616 shares of the company’s stock, valued at approximately $4,298,304. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. acquired 324,810 shares of the business’s stock in a transaction on Friday, September 11th. The stock was acquired at an average cost of $222.89 per share, for a total transaction of $72,396,900.90. Following the transaction, the insider owned 117,058,444 shares of the company’s stock, valued at approximately $26,091,156,583.16. The trade was a 0.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 6,254,462 shares of company stock worth $1,380,321,958 over the last quarter. 0.12% of the stock is currently owned by corporate insiders.

Republic Services Company Profile

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.