Republic Services (NYSE:RSG) Hits New 52-Week High – What’s Next?

Shares of Republic Services, Inc. (NYSE:RSG) hit a new 52-week high during trading on Wednesday . The company traded as high as $215.16 and last traded at $214.73, with a volume of 233829 shares traded. The stock had previously closed at $212.24.

Analyst Ratings Changes

RSG has been the topic of a number of recent research reports. CIBC increased their price objective on shares of Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. William Blair initiated coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. BMO Capital Markets increased their price objective on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their target price on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird raised their target price on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Stock Up 1.3 %

The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The business’s 50 day simple moving average is $203.52 and its 200 day simple moving average is $197.67. The company has a market capitalization of $67.35 billion, a PE ratio of 34.40, a P/E/G ratio of 3.25 and a beta of 0.70.

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

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 1.08%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the company’s 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 sale, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RSG. Russell Investments Group Ltd. grew its holdings in Republic Services by 19.8% during the 1st quarter. Russell Investments Group Ltd. now owns 158,927 shares of the business services provider’s stock worth $30,425,000 after acquiring an additional 26,227 shares in the last quarter. Avantax Advisory Services Inc. grew its position in shares of Republic Services by 30.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 12,047 shares of the business services provider’s stock valued at $2,306,000 after buying an additional 2,816 shares during the last quarter. Bleakley Financial Group LLC grew its position in shares of Republic Services by 5.3% in the 1st quarter. Bleakley Financial Group LLC now owns 5,277 shares of the business services provider’s stock valued at $1,010,000 after buying an additional 266 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Republic Services by 8.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 239,031 shares of the business services provider’s stock valued at $45,760,000 after buying an additional 19,414 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Republic Services by 18.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 255,171 shares of the business services provider’s stock valued at $48,850,000 after buying an additional 39,379 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

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.