Republic Services (NYSE:RSG) Hits New 52-Week High – Time to Buy?

Republic Services, Inc. (NYSE:RSG)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $233.42 and last traded at $232.57, with a volume of 116345 shares. The stock had previously closed at $230.87.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Jefferies Financial Group raised their price objective on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and raised their price target for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Truist Financial restated a “buy” rating and issued a $250.00 price target (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $233.41.

Republic Services Stock Performance

The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $72.70 billion, a PE ratio of 35.88, a PEG ratio of 3.64 and a beta of 0.74. The business has a 50 day simple moving average of $212.87 and a 200 day simple moving average of $208.65.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same period last year, the business earned $1.41 EPS. Equities research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.00%. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Insider Buying and Selling at Republic Services

In related news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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 business. FSA Wealth Management LLC acquired a new stake in Republic Services during the third quarter worth about $25,000. Arcadia Investment Management Corp MI increased its holdings in shares of Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 88 shares in the last quarter. R Squared Ltd purchased a new stake in Republic Services during the fourth quarter worth $32,000. Truvestments Capital LLC acquired a new stake in Republic Services during the third quarter valued at $34,000. Finally, New Age Alpha Advisors LLC increased its holdings in Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after buying an additional 73 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other 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.