Republic Services, Inc. (NYSE:RSG) Receives $243.89 Average PT from Brokerages

Republic Services, Inc. (NYSE:RSG) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-two ratings firms that are presently covering the company, Marketbeat reports. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $243.8947.

A number of equities research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $249.00 price target on shares of Republic Services in a research note on Friday, May 8th. Robert W. Baird cut their price objective on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Royal Bank Of Canada raised their price target on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Barclays upped their price objective on shares of Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th.

Republic Services Stock Down 0.2%

RSG stock opened at $207.28 on Monday. The company has a 50 day moving average of $212.64 and a two-hundred day moving average of $214.96. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services has a 12-month low of $196.41 and a 12-month high of $238.62. The company has a market cap of $63.77 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 3.47 and a beta of 0.40.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period last year, the company earned $1.58 earnings per share. Republic Services’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Republic Services will post 7.29 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change from Republic Services’s previous quarterly dividend of $0.62. Republic Services’s payout ratio is currently 35.87%.

Insider Activity at Republic Services

In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the sale, the director owned 58 shares of the company’s stock, valued at $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the stock in a transaction on Monday, May 18th. The shares were bought at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the acquisition, the insider owned 110,803,982 shares of the company’s stock, valued at approximately $23,635,597,400.42. The trade was a 0.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 987,150 shares of company stock valued at $202,366,682. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RSG. State Street Corp increased its stake in Republic Services by 1.7% during the fourth quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock valued at $2,054,820,000 after acquiring an additional 166,474 shares during the period. Capital World Investors increased its position in shares of Republic Services by 27.7% during the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after purchasing an additional 1,899,183 shares during the period. Morgan Stanley lifted its position in Republic Services by 38.6% in the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after purchasing an additional 1,490,719 shares during the period. Wellington Management Group LLP boosted its stake in Republic Services by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock worth $1,074,513,000 after buying an additional 807,525 shares in the last quarter. Finally, Norges Bank bought a new stake in Republic Services in the 4th quarter valued at $617,165,000. Institutional investors own 57.73% of the company’s stock.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.