StockNews.com initiated coverage on shares of Republic Services (NYSE:RSG – Get Rating) in a research report released on Thursday morning. The brokerage issued a buy rating on the business services provider’s stock.
RSG has been the subject of several other research reports. BMO Capital Markets reduced their price target on shares of Republic Services from $148.00 to $138.00 and set a market perform rating for the company in a report on Thursday, February 16th. UBS Group downgraded shares of Republic Services from a buy rating to a neutral rating in a research report on Tuesday, January 10th. Royal Bank of Canada boosted their target price on shares of Republic Services from $131.00 to $134.00 and gave the stock a sector perform rating in a research report on Thursday, February 16th. Morgan Stanley decreased their price objective on shares of Republic Services from $150.00 to $144.00 and set an overweight rating for the company in a research note on Wednesday, January 4th. Finally, Robert W. Baird lifted their price objective on shares of Republic Services from $136.00 to $142.00 and gave the company a neutral rating in a research note on Thursday, February 16th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Republic Services currently has a consensus rating of Moderate Buy and a consensus price target of $145.33.
Republic Services Stock Performance
RSG opened at $130.73 on Thursday. The stock has a market capitalization of $41.32 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.83 and a beta of 0.65. The company has a fifty day moving average of $126.80 and a 200 day moving average of $132.51. Republic Services has a fifty-two week low of $119.72 and a fifty-two week high of $149.17. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.70 and a current ratio of 0.70.
Republic Services Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Monday, April 3rd will be paid a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, March 31st. Republic Services’s payout ratio is 42.22%.
Insider Transactions at Republic Services
In other news, Director Jennifer M. Kirk purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The shares were acquired at an average cost of $129.60 per share, with a total value of $129,600.00. Following the transaction, the director now owns 4,449 shares in the company, valued at approximately $576,590.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.
Institutional Investors Weigh In On Republic Services
Several hedge funds have recently bought and sold shares of the business. Asset Dedication LLC acquired a new stake in Republic Services in the 3rd quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Republic Services by 94.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 206 shares of the business services provider’s stock worth $28,000 after purchasing an additional 100 shares during the period. Godsey & Gibb Inc. acquired a new stake in shares of Republic Services during the fourth quarter worth $29,000. Guardian Wealth Advisors LLC acquired a new stake in shares of Republic Services during the third quarter worth $31,000. Finally, Washington Trust Advisors Inc. acquired a new position in Republic Services in the third quarter valued at about $35,000. 57.14% of the stock is owned by hedge funds and other institutional investors.
Republic Services Company Profile
Republic Services, Inc engages in the provision of environmental services. It operates through the following segments: Group 1, Group 2, and Group 3. The Group 1 segment focuses on the business of recycling and solid waste in geographic areas located in western United States. The Group 2 segment includes the recycling and solid waste business in geographic areas located in the southeastern and mid-western and the eastern seaboard of the United States.
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