Republic Services (NYSE:RSG) Sets New 12-Month High – Here’s Why

Shares of Republic Services, Inc. (NYSE:RSG) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $209.09 and last traded at $208.59, with a volume of 170972 shares traded. The stock had previously closed at $207.07.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RSG shares. Morgan Stanley upped their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Robert W. Baird upped their price objective on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Scotiabank started coverage on shares of Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target for the company. Stifel Nicolaus upped their price target on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Oppenheimer upped their price target on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Stock Performance

The firm has a market capitalization of $66.26 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 3.17 and a beta of 0.70. The company’s 50 day moving average is $203.32 and its 200-day moving average is $197.31. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. Republic Services’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 earnings per share. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Insider Buying and Selling at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tradewinds LLC. boosted its holdings in Republic Services by 4.4% during the third quarter. Tradewinds LLC. now owns 28,182 shares of the business services provider’s stock worth $5,660,000 after purchasing an additional 1,190 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in Republic Services during the third quarter worth about $1,997,000. Intech Investment Management LLC boosted its holdings in Republic Services by 29.4% during the third quarter. Intech Investment Management LLC now owns 86,189 shares of the business services provider’s stock worth $17,310,000 after purchasing an additional 19,566 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Republic Services by 31.7% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 614,586 shares of the business services provider’s stock worth $123,434,000 after purchasing an additional 147,799 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its holdings in Republic Services by 14.7% during the third quarter. Citizens Financial Group Inc. RI now owns 9,920 shares of the business services provider’s stock worth $1,992,000 after purchasing an additional 1,270 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

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.