Republic Services (NYSE:RSG) Downgraded by StockNews.com

StockNews.com cut shares of Republic Services (NYSE:RSG) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday.

RSG has been the topic of a number of other research reports. The Goldman Sachs Group lifted their target price on shares of Republic Services from $209.00 to $230.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Truist Financial upgraded Republic Services from a hold rating to a buy rating and raised their price target for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. Scotiabank increased their price objective on Republic Services from $211.00 to $213.00 and gave the company a sector perform rating in a research note on Wednesday, May 1st. Oppenheimer upped their price target on shares of Republic Services from $204.00 to $211.00 and gave the company an outperform rating in a report on Monday, July 15th. Finally, Royal Bank of Canada began coverage on shares of Republic Services in a research report on Monday, April 8th. They issued a sector perform rating and a $198.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Republic Services presently has a consensus rating of Moderate Buy and an average price target of $211.69.

Republic Services Trading Up 0.5 %

Shares of RSG stock opened at $190.30 on Wednesday. The business has a 50-day moving average price of $192.24 and a two-hundred day moving average price of $185.85. Republic Services has a 12-month low of $140.23 and a 12-month high of $206.54. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.05. The firm has a market cap of $59.93 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 3.38 and a beta of 0.69.

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

Republic Services Increases Dividend

The business 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. 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 dividend payout ratio is currently 37.54%.

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth bought 540 shares of Republic Services stock in a transaction on Tuesday, June 4th. The stock was acquired at an average price of $185.26 per share, with a total value of $100,040.40. Following the acquisition, the director now owns 540 shares in the company, valued at $100,040.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CMO Amanda Hodges sold 6,500 shares of the firm’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 sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Katharine Weymouth acquired 540 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were bought at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the acquisition, the director now directly owns 540 shares of the company’s stock, valued at $100,040.40. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Republic Services

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position 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 valued at $3,494,714,000 after acquiring an additional 101,518 shares during the last quarter. Capital World Investors lifted its stake in shares of Republic Services by 20.5% in the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after purchasing an additional 1,346,588 shares during the period. Norges Bank purchased a new position in shares of Republic Services in the fourth quarter worth approximately $358,837,000. TD Asset Management Inc increased its holdings in Republic Services by 424.7% during 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 buying an additional 1,393,918 shares during the last quarter. Finally, Bank of New York Mellon Corp raised 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 worth $286,868,000 after acquiring an additional 3,809 shares during the period. 57.73% of the stock is currently 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.