Republic Services, Inc. (NYSE:RSG) Receives $220.06 Average PT from Analysts

Shares of Republic Services, Inc. (NYSE:RSG) have received a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $221.12.

A number of research firms have issued reports on RSG. William Blair initiated coverage on Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Scotiabank began 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 on the stock. Truist Financial boosted their price objective on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $211.00 to $238.00 in a report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the company from $219.00 to $237.00 in a report on Tuesday, December 10th.

Republic Services Stock Up 2.0 %

NYSE:RSG opened at $207.05 on Friday. The firm has a 50-day simple moving average of $208.71 and a two-hundred day simple moving average of $203.81. The firm has a market cap of $64.84 billion, a P/E ratio of 33.13, a P/E/G ratio of 3.30 and a beta of 0.73. Republic Services has a fifty-two week low of $162.86 and a fifty-two week high of $220.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.54 earnings per share. Analysts predict that Republic Services will post 6.25 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.12%. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Activity at Republic Services

In other news, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the transaction, the director now owns 879 shares in the company, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Republic Services

Several hedge funds have recently bought and sold shares of RSG. TCW Group Inc. increased its stake in Republic Services by 13.0% in the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after buying an additional 13,138 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Republic Services in the third quarter worth approximately $6,102,000. Lifeworks Advisors LLC increased its holdings in Republic Services by 1,112.3% during the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock worth $4,312,000 after purchasing an additional 19,698 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Republic Services by 15.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock worth $1,137,000 after buying an additional 746 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Republic Services during the 3rd quarter worth $6,579,000. Institutional investors own 57.73% of the company’s stock.

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.