Republic Services, Inc. (NYSE:RSG) announced a quarterly dividend on Tuesday, October 27th, Zacks reports. Shareholders of record on Monday, January 4th will be paid a dividend of 0.425 per share by the business services provider on Friday, January 15th. This represents a $1.70 annualized dividend and a yield of 1.76%. The ex-dividend date is Thursday, December 31st.
Republic Services has raised its dividend by 25.8% over the last three years and has raised its dividend every year for the last 1 years. Republic Services has a dividend payout ratio of 50.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Republic Services to earn $3.54 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 48.0%.
Shares of RSG stock traded up $0.01 during trading hours on Tuesday, reaching $96.43. The company had a trading volume of 2,974 shares, compared to its average volume of 1,316,804. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.76 and a current ratio of 0.76. Republic Services has a twelve month low of $65.37 and a twelve month high of $103.79. The company has a market capitalization of $30.73 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 3.68 and a beta of 0.61. The stock’s fifty day simple moving average is $97.27 and its 200 day simple moving average is $91.08.
Republic Services announced that its board has initiated a share repurchase plan on Thursday, November 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the business services provider to buy up to 6.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
RSG has been the subject of a number of recent research reports. Raymond James increased their target price on Republic Services from $97.00 to $102.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. BidaskClub upgraded Republic Services from a “sell” rating to a “hold” rating in a research note on Tuesday, December 22nd. Zacks Investment Research downgraded Republic Services from a “buy” rating to a “hold” rating and set a $98.00 price target for the company. in a report on Tuesday, October 20th. Morgan Stanley increased their price target on Republic Services from $94.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, November 6th. Finally, JPMorgan Chase & Co. downgraded Republic Services from an “overweight” rating to a “neutral” rating and set a $99.00 price target for the company. in a report on Wednesday, September 23rd. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $96.23.
In other Republic Services news, CEO Donald W. Slager sold 43,199 shares of the stock in a transaction that occurred on Friday, December 11th. The stock was sold at an average price of $94.85, for a total transaction of $4,097,425.15. Following the transaction, the chief executive officer now owns 299,080 shares of the company’s stock, valued at approximately $28,367,738. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, disposal, recycling, and environmental services in the United States. The company serves small-container, large-container, and municipal and residential customers. 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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