Republic Services, Inc. $RSG Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC increased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 6.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,258 shares of the business services provider’s stock after purchasing an additional 2,526 shares during the quarter. ProShare Advisors LLC’s holdings in Republic Services were worth $9,168,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RSG. Laurel Wealth Advisors LLC acquired a new stake in Republic Services during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new stake in Republic Services in the third quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC grew its position in Republic Services by 121.8% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 67 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Republic Services in the third quarter valued at approximately $29,000. Finally, Sound Income Strategies LLC acquired a new stake in Republic Services in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of Republic Services stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the purchase, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. This represents a 0.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders purchased 987,150 shares of company stock worth $202,366,682. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RSG. Weiss Ratings downgraded shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Robert W. Baird lowered their price objective on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. JPMorgan Chase & Co. increased their price objective on shares of Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. Wells Fargo & Company increased their price objective on shares of Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Finally, Oppenheimer lowered their price objective on shares of Republic Services from $256.00 to $255.00 and set an “outperform” rating for the company in a research report on Friday, January 23rd. Eleven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Republic Services has an average rating of “Hold” and a consensus target price of $245.15.

Republic Services Stock Performance

Republic Services stock opened at $207.67 on Friday. The stock has a market cap of $63.89 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a 50 day moving average of $213.33 and a 200-day moving average of $214.87. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $258.75.

Republic Services (NYSE:RSG) last released its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 EPS. On average, analysts expect that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio is 35.87%.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.