Republic Services (NYSE:RSG) Price Target Cut to $214.00

Republic Services (NYSE:RSG) had its price objective cut by Raymond James from $219.00 to $214.00 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Several other research analysts have also commented on the stock. StockNews.com lowered shares of Republic Services from a strong-buy rating to a buy rating in a research note on Wednesday. BMO Capital Markets boosted their price objective on shares of Republic Services from $209.00 to $211.00 and gave the stock a market perform rating in a research note on Thursday. Truist Financial upgraded shares of Republic Services from a hold rating to a buy rating and boosted their price objective for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. CIBC boosted 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. Finally, 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 note on Thursday. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $211.69.

Republic Services Trading Down 5.2 %

NYSE:RSG opened at $189.34 on Thursday. Republic Services has a one year low of $140.23 and a one year high of $206.54. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market cap of $59.63 billion, a P/E ratio of 33.22, a P/E/G ratio of 3.38 and a beta of 0.69. The firm has a 50-day simple moving average of $192.20 and a 200-day simple moving average of $185.67.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.35 by $0.10. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a net margin of 12.11% and a return on equity of 18.00%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 EPS. Equities analysts anticipate that Republic Services will post 6.05 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. This is an increase from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s dividend payout ratio is 37.54%.

Insider Activity

In other news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction on Monday, May 6th. The shares were 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 of the company’s stock, valued at approximately $1,270,702.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Katharine Weymouth purchased 540 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the acquisition, the director now directly owns 540 shares of the company’s stock, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Institutional Trading of Republic Services

A number of hedge funds have recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in Republic Services by 416.9% during the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock valued at $1,082,209,000 after purchasing an additional 5,292,862 shares in the last quarter. Norges Bank purchased a new position in Republic Services during the fourth quarter valued at $358,837,000. TD Asset Management Inc lifted its holdings in Republic Services by 424.7% during the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after purchasing an additional 1,393,918 shares in the last quarter. M&G Plc purchased a new position in Republic Services during the first quarter valued at $130,892,000. Finally, Corient Private Wealth LLC lifted its holdings in Republic Services by 136.5% during the fourth quarter. Corient Private Wealth LLC now owns 361,900 shares of the business services provider’s stock valued at $59,681,000 after purchasing an additional 208,902 shares in the last quarter. 57.73% of the stock is 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.