Republic Services (NYSE:RSG) Raised to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Republic Services (NYSE:RSG) from a sector perform rating to an outperform rating in a research note issued to investors on Monday morning, Marketbeat reports. The firm currently has $237.00 target price on the business services provider’s stock, up from their previous target price of $219.00.

RSG has been the subject of a number of other research reports. William Blair initiated coverage on shares of Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating for the company. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. Scotiabank started coverage on Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Finally, Oppenheimer boosted their target price on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $221.12.

Republic Services Trading Up 2.0 %

Shares of RSG stock opened at $207.05 on Monday. The stock has a 50 day simple moving average of $208.53 and a 200 day simple moving average of $203.78. Republic Services has a 1 year low of $162.86 and a 1 year high of $220.58. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The stock has a market cap of $64.84 billion, a P/E ratio of 33.13, a price-to-earnings-growth ratio of 3.30 and a beta of 0.73.

Republic Services (NYSE:RSG) last issued its quarterly 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 return on equity of 18.18% and a net margin of 12.46%. The company had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter last year, the business earned $1.54 earnings per share. Republic Services’s revenue was up 6.5% on a year-over-year basis. On average, research analysts predict that Republic Services will post 6.25 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.58 dividend. The ex-dividend date 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 (DPR) is presently 37.12%.

Insider Transactions at Republic Services

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

Institutional Trading of Republic Services

A number of large investors have recently bought and sold shares of the business. TCW Group Inc. boosted its position in shares of Republic Services by 13.0% during the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock valued at $23,013,000 after purchasing an additional 13,138 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Republic Services during the 3rd quarter worth approximately $6,102,000. Lifeworks Advisors LLC grew its position in shares of 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 buying an additional 19,698 shares during the period. Assenagon Asset Management S.A. increased its stake 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 valued at $1,137,000 after acquiring an additional 746 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Republic Services during the 3rd quarter valued at $6,579,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

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.