Republic Services (NYSE:RSG) PT Raised to $210.00

Republic Services (NYSE:RSG) had its price objective raised by Robert W. Baird from $208.00 to $210.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

RSG has been the subject of a number of other reports. Oppenheimer raised their target price on Republic Services from $204.00 to $211.00 and gave the stock an outperform rating in a research report on Monday, July 15th. Royal Bank of Canada assumed coverage on Republic Services in a research note on Monday, April 8th. They set a sector perform rating and a $198.00 price objective for the company. Truist Financial raised Republic Services from a hold rating to a buy rating and lifted their price target for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. The Goldman Sachs Group lifted their price target on Republic Services from $209.00 to $230.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Finally, StockNews.com downgraded Republic Services from a strong-buy rating to a buy rating in a report on Wednesday, July 24th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $211.69.

Republic Services Stock Up 0.5 %

Shares of NYSE:RSG opened at $190.30 on Thursday. The business’s 50 day simple moving average is $192.24 and its two-hundred day simple moving average is $186.16. The firm has a market cap of $59.93 billion, a P/E ratio of 33.39, a PEG ratio of 3.15 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.59. Republic Services has a 52-week low of $140.23 and a 52-week high of $206.54.

Republic Services (NYSE:RSG) last posted 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 analyst estimates of $3.89 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $1.24 earnings per share. As a group, research analysts forecast that Republic Services will post 6.17 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a $0.58 dividend. This is a boost 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%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s payout ratio is currently 37.54%.

Insider Transactions at Republic Services

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the transaction, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the transaction, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Katharine Weymouth purchased 540 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was acquired at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now directly owns 540 shares of the company’s stock, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Institutional Trading of Republic Services

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Unigestion Holding SA grew its stake in Republic Services by 2,178.2% during the fourth quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock valued at $21,048,000 after acquiring an additional 122,044 shares in the last quarter. Bank of Nova Scotia increased its position in Republic Services by 52.3% during the 4th quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock valued at $35,357,000 after purchasing an additional 73,651 shares during the period. TCW Group Inc. purchased a new position in Republic Services during the 4th quarter valued at about $17,903,000. Hsbc Holdings PLC grew its position in shares of Republic Services by 8.7% in the 4th quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock worth $75,297,000 after buying an additional 36,484 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Republic Services by 10.4% in the 4th quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock worth $97,496,000 after buying an additional 55,668 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

About Republic Services

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.