Republic Services, Inc. (RSG) To Go Ex-Dividend on September 28th
Republic Services, Inc. (NYSE:RSG) announced a quarterly dividend on Thursday, July 26th, RTT News reports. Shareholders of record on Monday, October 1st will be given a dividend of 0.375 per share by the business services provider on Monday, October 15th. This represents a $1.50 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Friday, September 28th. This is a boost from Republic Services’s previous quarterly dividend of $0.35.
Republic Services has increased its dividend payment by an average of 7.2% annually over the last three years and has raised its dividend every year for the last 8 years. Republic Services has a payout ratio of 49.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Republic Services to earn $3.25 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 46.2%.
NYSE:RSG opened at $72.71 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.05. The stock has a market cap of $23.83 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 2.25 and a beta of 0.57. Republic Services has a 52 week low of $60.26 and a 52 week high of $75.82.
In related news, CFO Charles F. Serianni sold 9,500 shares of Republic Services stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $70.00, for a total value of $665,000.00. Following the completion of the transaction, the chief financial officer now owns 46,143 shares in the company, valued at $3,230,010. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald W. Slager sold 225,734 shares of Republic Services stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $73.02, for a total value of $16,483,096.68. Following the completion of the transaction, the insider now owns 378,023 shares of the company’s stock, valued at approximately $27,603,239.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 326,568 shares of company stock valued at $23,819,132. 0.30% of the stock is currently owned by company insiders.
RSG has been the subject of a number of research analyst reports. Bank of America raised their price objective on Republic Services from $70.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, August 17th. ValuEngine upgraded Republic Services from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Stifel Nicolaus raised their price objective on Republic Services from $73.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, May 30th. Finally, BMO Capital Markets raised their price objective on Republic Services from $75.00 to $79.00 and gave the company a “positive” rating in a research report on Thursday, August 16th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $75.00.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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