Republic Services (NYSE:RSG) Price Target Raised to $220.00 at Morgan Stanley

Republic Services (NYSE:RSG) had its price objective hoisted by Morgan Stanley from $217.00 to $220.00 in a research note released on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

RSG has been the topic of a number of other reports. CIBC raised their price target on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their price target for the stock from $219.00 to $237.00 in a research report on Tuesday. Oppenheimer raised their price target on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Scotiabank started 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. Finally, Truist Financial raised their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and an average target price of $220.06.

Republic Services Trading Down 0.0 %

NYSE RSG opened at $210.25 on Thursday. Republic Services has a 12 month low of $160.65 and a 12 month high of $220.58. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $65.84 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 3.21 and a beta of 0.71. The company’s fifty day moving average price is $208.36 and its two-hundred day moving average price is $201.56.

Republic Services (NYSE:RSG) last posted its quarterly earnings data 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 firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the firm posted $1.54 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Republic Services will post 6.25 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

Insider Transactions at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. The trade was a 44.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new position in shares of Republic Services in the third quarter worth about $25,000. Wolff Wiese Magana LLC boosted its holdings in shares of Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after purchasing an additional 109 shares during the period. Webster Bank N. A. acquired a new stake in shares of Republic Services during the third quarter worth approximately $31,000. Truvestments Capital LLC acquired a new stake in shares of Republic Services during the third quarter worth approximately $34,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Republic Services during the second quarter worth approximately $36,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

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.