Republic Services (NYSE:RSG) Price Target Raised to $219.00

Republic Services (NYSE:RSG) had its target price upped by Royal Bank of Canada from $211.00 to $219.00 in a report released on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the business services provider’s stock.

RSG has been the topic of several other research reports. Robert W. Baird boosted their price target on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. William Blair initiated coverage on shares of Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Scotiabank began coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price on the stock. Stifel Nicolaus increased their price objective on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, TD Cowen increased their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Republic Services Trading Up 0.3 %

Shares of RSG stock opened at $198.58 on Wednesday. The company has a 50 day moving average of $203.43 and a 200-day moving average of $196.74. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services has a 12-month low of $148.36 and a 12-month high of $208.69. The firm has a market cap of $62.19 billion, a P/E ratio of 31.77, a PEG ratio of 3.04 and a beta of 0.70.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share 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 business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the business earned $1.54 EPS. Republic Services’s revenue was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Republic Services will post 6.23 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Insider Activity

In other news, Director Tomago Collins sold 3,200 shares of the stock in a transaction dated 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 sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Republic Services

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 101,518 shares during the period. Capital World Investors boosted its stake in shares of 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 purchasing an additional 1,346,588 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Republic Services by 2.3% in the third 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 period. Legal & General Group Plc boosted its stake in shares of Republic Services by 5.4% in the second 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 period. Finally, TD Asset Management Inc lifted its stake in Republic Services by 2.1% in the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after acquiring an additional 35,650 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.