Republic Services, Inc. (NYSE:RSG) to Issue $0.58 Quarterly Dividend

Republic Services, Inc. (NYSE:RSG) declared a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Shareholders of record on Wednesday, April 2nd will be given a dividend of 0.58 per share by the business services provider on Tuesday, April 15th. This represents a $2.32 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Wednesday, April 2nd.

Republic Services has increased its dividend payment by an average of 8.0% annually over the last three years and has raised its dividend every year for the last 21 years. Republic Services has a dividend payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Republic Services to earn $6.77 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 34.3%.

Republic Services Stock Performance

Shares of Republic Services stock traded down $0.03 on Friday, reaching $221.55. 280,095 shares of the company were exchanged, compared to its average volume of 954,612. Republic Services has a 1-year low of $171.06 and a 1-year high of $222.65. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $69.38 billion, a price-to-earnings ratio of 35.44, a P/E/G ratio of 3.17 and a beta of 0.74. The company’s 50-day moving average is $209.96 and its two-hundred day moving average is $206.15.

Insider Buying and Selling at Republic Services

In related news, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were 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 $189,222.33. The trade was a 67.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. The trade was a 44.53 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RSG shares. CIBC raised their price objective on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group raised their target price on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and lifted their price objective for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Finally, Oppenheimer lifted their price objective on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $224.38.

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.