ProShare Advisors LLC Raises Stake in Republic Services, Inc. (NYSE:RSG)

ProShare Advisors LLC boosted its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,980 shares of the business services provider's stock after acquiring an additional 3,278 shares during the quarter. ProShare Advisors LLC's holdings in Republic Services were worth $7,440,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RSG. Mirae Asset Global Investments Co. Ltd. raised its holdings in Republic Services by 37.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider's stock worth $3,586,000 after purchasing an additional 4,827 shares in the last quarter. DnB Asset Management AS raised its holdings in Republic Services by 65.1% during the fourth quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider's stock worth $14,672,000 after purchasing an additional 28,764 shares in the last quarter. Hickory Point Bank & Trust acquired a new stake in Republic Services during the fourth quarter worth approximately $790,000. Uniting Wealth Partners LLC acquired a new stake in Republic Services during the fourth quarter worth approximately $266,000. Finally, EULAV Asset Management raised its holdings in Republic Services by 41.7% during the fourth quarter. EULAV Asset Management now owns 390,458 shares of the business services provider's stock worth $78,552,000 after purchasing an additional 115,000 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on RSG shares. Robert W. Baird raised their price objective on shares of Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Stifel Nicolaus raised their price objective on shares of Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Truist Financial raised their price objective on shares of Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Royal Bank of Canada restated an "outperform" rating and set a $266.00 target price on shares of Republic Services in a research report on Friday, April 25th. Finally, CIBC upgraded shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 target price on the stock in a research report on Tuesday, March 4th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and a consensus price target of $250.44.

Republic Services Stock Performance

NYSE:RSG traded up $1.79 during midday trading on Friday, reaching $252.79. The stock had a trading volume of 1,074,391 shares, compared to its average volume of 1,128,341. The firm has a fifty day simple moving average of $242.93 and a two-hundred day simple moving average of $225.85. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $253.76. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock has a market cap of $79.00 billion, a P/E ratio of 38.95, a P/E/G ratio of 3.64 and a beta of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the firm posted $1.45 EPS. Republic Services's quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be given a $0.58 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.92%. Republic Services's dividend payout ratio (DPR) is 34.99%.

Republic Services Company 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.