4,720 Republic Services, Inc. $RSG Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 13.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 30,455 shares of the business services provider’s stock after selling 4,720 shares during the quarter. ProShare Advisors LLC’s holdings in Republic Services were worth $6,392,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Cidel Asset Management Inc. bought a new position in Republic Services during the third quarter valued at $208,000. MGO One Seven LLC increased its position in Republic Services by 33.9% in the third quarter. MGO One Seven LLC now owns 18,695 shares of the business services provider’s stock worth $3,924,000 after buying an additional 4,731 shares during the last quarter. Aprio Wealth Management LLC raised its stake in shares of Republic Services by 7.0% in the third quarter. Aprio Wealth Management LLC now owns 3,874 shares of the business services provider’s stock valued at $813,000 after buying an additional 254 shares during the period. Avestar Capital LLC bought a new stake in shares of Republic Services in the third quarter valued at $248,000. Finally, International Assets Investment Management LLC lifted its position in shares of Republic Services by 10,842.2% during the 3rd quarter. International Assets Investment Management LLC now owns 216,000 shares of the business services provider’s stock valued at $45,332,000 after buying an additional 214,026 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

Republic Services stock opened at $245.35 on Thursday. Republic Services, Inc. has a one year low of $196.41 and a one year high of $249.37. The business has a fifty day moving average price of $223.85 and a 200-day moving average price of $217.32. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.75 and a quick ratio of 0.64. The firm has a market capitalization of $74.74 billion, a P/E ratio of 33.94, a PEG ratio of 4.04 and a beta of 0.32.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, October 29th. The business services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.01. The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.42 billion. Republic Services had a return on equity of 18.56% and a net margin of 12.93%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 EPS. As a group, equities research analysts forecast that Republic Services, Inc. will post 7.26 EPS for the current year.

Republic Services Announces Dividend

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

Insider Activity

In other news, EVP Brian Bales sold 3,400 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $244.00, for a total value of $829,600.00. Following the sale, the executive vice president directly owned 17,616 shares of the company’s stock, valued at approximately $4,298,304. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 324,810 shares of the stock in a transaction dated Friday, September 11th. The stock was purchased at an average cost of $222.89 per share, for a total transaction of $72,396,900.90. Following the completion of the acquisition, the insider owned 117,058,444 shares of the company’s stock, valued at approximately $26,091,156,583.16. This represents a 0.28% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 6,254,462 shares of company stock worth $1,380,321,958. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

RSG has been the subject of several research reports. The Goldman Sachs Group cut their price target on Republic Services from $256.00 to $246.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. JPMorgan Chase & Co. boosted their price objective on Republic Services from $245.00 to $265.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. UBS Group upped their price objective on shares of Republic Services from $233.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Wells Fargo & Company increased their target price on shares of Republic Services from $234.00 to $270.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Royal Bank Of Canada increased their target price on shares of Republic Services from $272.00 to $277.00 and gave the stock an “outperform” rating in a research report on Friday, October 30th. Twelve equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $249.32.

About Republic Services

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.