Republic Services (NYSE:RSG) Price Target Raised to $230.00

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

A number of other equities research analysts have also weighed in on the company. UBS Group raised their price objective on Republic Services from $195.00 to $200.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. Truist Financial raised Republic Services from a hold rating to a buy rating and increased their target price for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. StockNews.com downgraded Republic Services from a strong-buy rating to a buy rating in a report on Wednesday. Royal Bank of Canada started coverage on Republic Services in a report on Monday, April 8th. They set a sector perform rating and a $198.00 target price on the stock. Finally, Oppenheimer increased their target price on Republic Services from $204.00 to $211.00 and gave the stock an outperform rating in a report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of Moderate Buy and an average price target of $211.69.

Republic Services Price Performance

Shares of NYSE RSG opened at $189.34 on Thursday. Republic Services has a fifty-two week low of $140.23 and a fifty-two week high of $206.54. The business has a 50 day moving average price of $192.20 and a two-hundred day moving average price of $185.67. 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 $59.63 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 3.38 and a beta of 0.69.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating 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 firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the firm earned $1.24 EPS. Republic Services’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Republic Services will post 6.05 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a yield of 1.23%. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is presently 37.54%.

Insider Buying and Selling at Republic Services

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction on Monday, May 6th. The stock was 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Katharine Weymouth purchased 540 shares of the stock in a transaction dated Tuesday, June 4th. The shares were purchased at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now 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 owned by company insiders.

Hedge Funds Weigh In On Republic Services

Several hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. grew its holdings in shares of Republic Services by 189.6% in the 4th quarter. Pacer Advisors Inc. now owns 38,492 shares of the business services provider’s stock worth $6,348,000 after acquiring an additional 25,200 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Republic Services by 16.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,576 shares of the business services provider’s stock worth $920,000 after acquiring an additional 782 shares during the last quarter. PFG Investments LLC acquired a new position in shares of Republic Services in the 4th quarter worth $343,000. Planned Solutions Inc. acquired a new position in shares of Republic Services in the 4th quarter worth $49,000. Finally, WASHINGTON TRUST Co grew its holdings in shares of Republic Services by 4.5% in the 4th quarter. WASHINGTON TRUST Co now owns 1,620 shares of the business services provider’s stock worth $267,000 after acquiring an additional 70 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.