Jefferies Financial Group began coverage on shares of Republic Services (NYSE:RSG) in a research note released on Thursday morning, The Fly reports. The brokerage issued a buy rating on the business services provider’s stock.
Other equities analysts also recently issued reports about the company. Berenberg Bank reaffirmed a buy rating and set a $115.00 price target on shares of Republic Services in a research report on Friday, October 25th. Royal Bank of Canada set a $91.00 price target on Republic Services and gave the stock a hold rating in a research report on Friday, July 26th. JPMorgan Chase & Co. reduced their price target on Republic Services from $92.00 to $86.00 and set a neutral rating on the stock in a research report on Monday, November 4th. ValuEngine downgraded Republic Services from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Finally, Raymond James set a $93.00 price target on Republic Services and gave the stock an outperform rating in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Republic Services presently has an average rating of Hold and a consensus target price of $89.37.
Shares of RSG stock traded up $0.50 during trading hours on Thursday, reaching $87.25. 829,436 shares of the company’s stock were exchanged, compared to its average volume of 1,105,014. The stock’s 50 day moving average is $86.62 and its 200-day moving average is $86.84. The company has a market cap of $27.95 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 3.18 and a beta of 0.49. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.97. Republic Services has a fifty-two week low of $68.94 and a fifty-two week high of $90.61.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, January 1st. Republic Services’s payout ratio is 52.43%.
In related news, CEO Donald W. Slager sold 95,126 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $90.00, for a total value of $8,561,340.00. Following the transaction, the chief executive officer now directly owns 382,736 shares of the company’s stock, valued at approximately $34,446,240. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Donald W. Slager sold 48,891 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $90.00, for a total value of $4,400,190.00. Following the completion of the transaction, the chief executive officer now directly owns 333,846 shares in the company, valued at $30,046,140. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSG. First Bank & Trust acquired a new position in shares of Republic Services in the 2nd quarter valued at $35,000. Gemmer Asset Management LLC grew its position in Republic Services by 140.2% during the 2nd quarter. Gemmer Asset Management LLC now owns 454 shares of the business services provider’s stock worth $39,000 after purchasing an additional 265 shares during the period. Gradient Investments LLC grew its position in Republic Services by 896.1% during the 3rd quarter. Gradient Investments LLC now owns 508 shares of the business services provider’s stock worth $44,000 after purchasing an additional 457 shares during the period. Usca Ria LLC acquired a new stake in Republic Services during the 3rd quarter worth about $45,000. Finally, Atlas Capital Advisors LLC acquired a new stake in Republic Services during the 3rd quarter worth about $50,000. 60.02% of the stock is currently owned by hedge funds and other institutional investors.
Republic Services Company Profile
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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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