Republic Services, Inc. (NYSE:RSG) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in Republic Services, Inc. (NYSE:RSG) by 14.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,824 shares of the business services provider’s stock after acquiring an additional 5,147 shares during the period. ProShare Advisors LLC’s holdings in Republic Services were worth $5,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in RSG. Norges Bank acquired a new stake in shares of Republic Services in the 4th quarter worth approximately $258,032,000. JPMorgan Chase & Co. lifted its stake in Republic Services by 40.8% during the first quarter. JPMorgan Chase & Co. now owns 6,180,535 shares of the business services provider’s stock valued at $835,731,000 after purchasing an additional 1,791,149 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Republic Services by 66.1% during the first quarter. Victory Capital Management Inc. now owns 2,113,375 shares of the business services provider’s stock valued at $285,771,000 after purchasing an additional 841,364 shares during the last quarter. Pictet Asset Management SA lifted its stake in Republic Services by 10.1% during the first quarter. Pictet Asset Management SA now owns 8,078,135 shares of the business services provider’s stock valued at $1,092,325,000 after purchasing an additional 738,378 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in Republic Services by 63.0% during the first quarter. Two Sigma Investments LP now owns 1,327,882 shares of the business services provider’s stock valued at $179,556,000 after purchasing an additional 513,200 shares during the last quarter. 57.23% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of RSG opened at $150.14 on Monday. The company’s fifty day moving average is $148.60 and its 200-day moving average is $143.28. Republic Services, Inc. has a 12 month low of $120.58 and a 12 month high of $156.65. The firm has a market cap of $47.49 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.92 and a beta of 0.67. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.17.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Monday, July 31st. The business services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.32 by $0.09. Republic Services had a net margin of 10.91% and a return on equity of 16.53%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the prior year, the business posted $1.32 EPS. Republic Services’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts expect that Republic Services, Inc. will post 5.35 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.535 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, September 29th. This represents a $2.14 annualized dividend and a dividend yield of 1.43%. Republic Services’s dividend payout ratio is 43.06%.

Insider Buying and Selling

In related news, CFO Brian M. Delghiaccio sold 5,500 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $149.65, for a total transaction of $823,075.00. Following the completion of the sale, the chief financial officer now directly owns 5,071 shares of the company’s stock, valued at approximately $758,875.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CMO Amanda Hodges sold 2,712 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $148.66, for a total transaction of $403,165.92. Following the completion of the sale, the chief marketing officer now directly owns 4,969 shares of the company’s stock, valued at approximately $738,691.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian M. Delghiaccio sold 5,500 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $149.65, for a total transaction of $823,075.00. Following the completion of the sale, the chief financial officer now directly owns 5,071 shares of the company’s stock, valued at $758,875.15. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RSG has been the subject of several recent research reports. Royal Bank of Canada increased their target price on shares of Republic Services from $156.00 to $163.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 1st. StockNews.com began coverage on shares of Republic Services in a report on Thursday, August 17th. They set a “buy” rating on the stock. Oppenheimer boosted their price target on shares of Republic Services from $158.00 to $159.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. BMO Capital Markets boosted their price target on shares of Republic Services from $158.00 to $160.00 and gave the company a “market perform” rating in a report on Tuesday, August 1st. Finally, Raymond James boosted their price target on shares of Republic Services from $154.00 to $167.00 and gave the company an “outperform” rating in a report on Friday, July 21st. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and an average price target of $159.00.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.