Republic Services (NYSE:RSG) Given New $230.00 Price Target at Stifel Nicolaus

Republic Services (NYSE:RSG) had its target price boosted by Stifel Nicolaus from $215.00 to $230.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

A number of other analysts also recently commented on the stock. Robert W. Baird increased their price objective on shares of Republic Services from $208.00 to $210.00 and gave the company a neutral rating in a report on Thursday. Truist Financial raised shares of Republic Services from a hold rating to a buy rating and increased their price target for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Republic Services in a research note on Thursday, May 23rd. They issued a hold rating and a $203.00 price target for the company. Royal Bank of Canada started coverage on shares of Republic Services in a research note on Monday, April 8th. They issued a sector perform rating and a $198.00 price target for the company. Finally, The Goldman Sachs Group increased their price target on shares of Republic Services from $209.00 to $230.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services has an average rating of Moderate Buy and an average target price of $211.69.

Republic Services Stock Down 5.2 %

RSG stock opened at $189.34 on Thursday. The company has a market cap of $59.63 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 3.38 and a beta of 0.69. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. Republic Services has a 12 month low of $140.23 and a 12 month high of $206.54. The firm has a 50-day moving average of $192.20 and a two-hundred day moving average of $185.67.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a net margin of 12.11% and a return on equity of 18.00%. Republic Services’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS. As a group, analysts forecast that Republic Services will post 6.05 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, October 2nd. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is currently 37.54%.

Insider Buying and Selling at Republic Services

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

Institutional Investors Weigh In On Republic Services

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Republic Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock valued at $3,494,714,000 after acquiring an additional 101,518 shares during the last quarter. Capital World Investors lifted its position in Republic Services by 20.5% in the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after acquiring an additional 1,346,588 shares during the last quarter. Norges Bank purchased a new stake in Republic Services in the fourth quarter valued at $358,837,000. TD Asset Management Inc lifted its position in Republic Services by 424.7% in the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after acquiring an additional 1,393,918 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Republic Services by 0.3% in the second 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 acquiring an additional 3,809 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

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.