Republic Services (NYSE:RSG) Sets New 12-Month High – Here’s Why

Shares of Republic Services, Inc. (NYSE:RSG) hit a new 52-week high during trading on Thursday . The stock traded as high as $209.09 and last traded at $208.59, with a volume of 170972 shares traded. The stock had previously closed at $207.07.

Wall Street Analyst Weigh In

Several analysts have commented on RSG shares. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. CIBC lifted their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Raymond James lowered their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Morgan Stanley boosted their price target on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Scotiabank began coverage on shares of Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Stock Up 1.7 %

The stock’s 50 day moving average price is $203.32 and its 200-day moving average price is $197.31. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market cap of $66.26 billion, a PE ratio of 33.86, a PEG ratio of 3.17 and a beta of 0.70.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the business posted $1.54 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.10%. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Activity at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $3,549,832.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Republic Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after acquiring an additional 101,518 shares in the last quarter. Capital World Investors grew its position in Republic Services by 20.5% during the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after purchasing an additional 1,346,588 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after purchasing an additional 57,040 shares during the last quarter. Legal & General Group Plc grew its position in Republic Services by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after purchasing an additional 92,013 shares during the last quarter. Finally, TD Asset Management Inc grew its position in Republic Services by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after purchasing an additional 35,650 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

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.