Republic Services (NYSE:RSG) Rating Lowered to Buy at StockNews.com

StockNews.com lowered shares of Republic Services (NYSE:RSG) from a strong-buy rating to a buy rating in a report released on Thursday morning.

A number of other brokerages have also recently commented on RSG. Royal Bank of Canada raised their price objective on Republic Services from $201.00 to $211.00 and gave the company a sector perform rating in a research note on Thursday, July 25th. The Goldman Sachs Group lifted their target price on Republic Services from $209.00 to $230.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft started coverage on Republic Services in a research report on Thursday, May 23rd. They set a hold rating and a $203.00 target price on the stock. Raymond James cut their target price on Republic Services from $219.00 to $214.00 and set an outperform rating on the stock in a research report on Thursday, July 25th. Finally, UBS Group lifted their target price on Republic Services from $195.00 to $200.00 and gave the company a neutral rating in a research report on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $211.69.

Republic Services Trading Up 1.2 %

Shares of Republic Services stock opened at $200.00 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. Republic Services has a 52 week low of $140.23 and a 52 week high of $206.54. The stock has a 50 day moving average price of $193.12 and a two-hundred day moving average price of $187.06. The stock has a market capitalization of $62.81 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.18 and a beta of 0.69.

Republic Services Increases Dividend

The company 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 $0.58 dividend. The ex-dividend date is Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a dividend yield of 1.16%. 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 the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Katharine Weymouth purchased 540 shares of Republic Services stock in a transaction dated Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the transaction, the director now owns 540 shares of the company’s stock, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Republic Services

Several hedge funds have recently made changes to their positions in RSG. Assenagon Asset Management S.A. grew its position in Republic Services by 16.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,576 shares of the business services provider’s stock worth $920,000 after buying an additional 782 shares in the last quarter. Global Retirement Partners LLC grew its position in Republic Services by 18.1% during the fourth quarter. Global Retirement Partners LLC now owns 745 shares of the business services provider’s stock worth $123,000 after buying an additional 114 shares in the last quarter. TIAA Trust National Association purchased a new position in Republic Services during the fourth quarter worth about $466,000. Trust Point Inc. purchased a new position in Republic Services during the fourth quarter worth about $541,000. Finally, Ballentine Partners LLC grew its position in Republic Services by 2.6% during the fourth quarter. Ballentine Partners LLC now owns 7,028 shares of the business services provider’s stock worth $1,159,000 after buying an additional 177 shares in the last quarter. 57.73% of the stock is currently 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.