Republic Services (NYSE:RSG) Price Target Raised to $208.00

Republic Services (NYSE:RSG) had its target price lifted by CIBC from $196.00 to $208.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Several other equities research analysts have also recently weighed in on RSG. The Goldman Sachs Group increased their price objective on Republic Services from $209.00 to $230.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Robert W. Baird increased their price objective on Republic Services from $208.00 to $210.00 and gave the company a neutral rating in a research report on Thursday. Oppenheimer reduced their price objective on Republic Services from $211.00 to $210.00 and set an outperform rating for the company in a research report on Thursday. BMO Capital Markets raised their target price on Republic Services from $209.00 to $211.00 and gave the stock a market perform rating in a research report on Thursday. Finally, UBS Group raised their target price on Republic Services from $195.00 to $200.00 and gave the stock a neutral rating in a research report on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Republic Services has a consensus rating of Moderate Buy and a consensus target price of $211.69.

Republic Services Price Performance

Shares of Republic Services stock opened at $190.30 on Thursday. The company’s 50-day moving average price is $192.24 and its two-hundred day moving average price is $186.16. The stock has a market cap of $59.77 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 3.18 and a beta of 0.69. Republic Services has a 52 week low of $140.23 and a 52 week high of $206.54. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. As a group, sell-side analysts anticipate that Republic Services will post 6.17 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a $0.58 dividend. The ex-dividend date is Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.22%. Republic Services’s dividend payout ratio (DPR) is 37.54%.

Insider Activity

In other news, CMO Amanda Hodges sold 6,500 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Katharine Weymouth acquired 540 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the transaction, the director now owns 540 shares of the company’s stock, valued at $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Republic Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Republic Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after buying an additional 101,518 shares during the last quarter. Capital World Investors boosted its holdings in Republic Services by 20.5% during the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after buying an additional 1,346,588 shares during the last quarter. Norges Bank bought a new position in Republic Services during the fourth quarter worth about $358,837,000. TD Asset Management Inc lifted its holdings in shares of Republic Services by 424.7% during the 1st quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after purchasing an additional 1,393,918 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Republic Services by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after purchasing an additional 3,809 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

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.