Republic Services (NYSE:RSG) Given New $220.00 Price Target at Oppenheimer

Republic Services (NYSE:RSG) had its price objective raised by Oppenheimer from $219.00 to $220.00 in a research note released on Wednesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the business services provider’s stock.

RSG has been the subject of several other research reports. BMO Capital Markets increased their target price on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada boosted their target price on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday. CIBC increased their price objective on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, TD Cowen boosted their price target on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Price Performance

RSG opened at $198.76 on Wednesday. The stock’s 50 day moving average price is $203.77 and its 200-day moving average price is $196.65. Republic Services has a 52-week low of $146.82 and a 52-week high of $208.69. The stock has a market capitalization of $62.42 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 3.21 and a beta of 0.69. 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 (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.19. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts predict that Republic Services will post 6.18 EPS for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.17%. Republic Services’s payout ratio is 37.12%.

Insider Activity

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Institutional Trading of Republic Services

Hedge funds have recently modified their holdings of the stock. RFG Advisory LLC increased its holdings in Republic Services by 0.5% in the second quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock valued at $2,061,000 after buying an additional 53 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in Republic Services by 2.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock worth $362,000 after buying an additional 53 shares during the period. Hexagon Capital Partners LLC raised its position in Republic Services by 4.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock valued at $278,000 after purchasing an additional 55 shares during the last quarter. Fidelis Capital Partners LLC boosted its stake in shares of Republic Services by 3.8% during the third quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider’s stock worth $310,000 after buying an additional 55 shares during the period. Finally, Tower Wealth Partners Inc. grew its stake in shares of Republic Services by 3.5% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,643 shares of the business services provider’s stock valued at $330,000 after purchasing an additional 56 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.