Republic Services, Inc. (NYSE:RSG) hit a new 52-week high on Friday . The stock traded as high as $76.12 and last traded at $76.12, with a volume of 54207 shares traded. The stock had previously closed at $75.65.
RSG has been the topic of several analyst reports. Stifel Nicolaus increased their price target on Republic Services from $73.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, September 10th. Bank of America increased their price target on Republic Services from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Friday, August 17th. ValuEngine upgraded Republic Services from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Finally, Oppenheimer restated a “hold” rating on shares of Republic Services in a research report on Friday, October 26th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $73.71.
The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.95. The stock has a market cap of $24.24 billion, a P/E ratio of 31.13, a PEG ratio of 2.27 and a beta of 0.54.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Monday, December 31st. Republic Services’s dividend payout ratio is presently 61.73%.
In related news, Director Jennifer M. Kirk purchased 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The shares were purchased at an average cost of $72.35 per share, with a total value of $108,525.00. Following the purchase, the director now owns 1,500 shares of the company’s stock, valued at approximately $108,525. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. B. Riley Wealth Management Inc. purchased a new position in Republic Services in the 3rd quarter valued at about $2,023,000. Nordea Investment Management AB lifted its stake in Republic Services by 25.6% in the 3rd quarter. Nordea Investment Management AB now owns 13,450 shares of the business services provider’s stock valued at $978,000 after buying an additional 2,742 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in Republic Services by 14.6% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 751,589 shares of the business services provider’s stock worth $54,610,000 after purchasing an additional 95,792 shares in the last quarter. Kentucky Retirement Systems purchased a new position in Republic Services in the 3rd quarter worth approximately $740,000. Finally, Matthew Goff Investment Advisor LLC lifted its stake in Republic Services by 2,317.5% in the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 12,266,686 shares of the business services provider’s stock worth $507,412,000 after purchasing an additional 11,759,274 shares in the last quarter. 61.56% of the stock is currently owned by hedge funds and other institutional investors.
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Republic Services Company Profile (NYSE:RSG)
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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