Republic Services (NYSE:RSG) Price Target Raised to $281.00

Republic Services (NYSE:RSG) had its price target boosted by Citigroup from $259.00 to $281.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

RSG has been the subject of several other reports. UBS Group raised their target price on shares of Republic Services from $233.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reduced their target price on Republic Services from $270.00 to $258.00 in a report on Friday, October 9th. Morgan Stanley lowered their price objective on shares of Republic Services from $232.00 to $219.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 13th. Canadian Imperial Bank of Commerce dropped their price objective on shares of Republic Services from $249.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, October 8th. Finally, Royal Bank Of Canada boosted their price target on shares of Republic Services from $272.00 to $277.00 and gave the company an “outperform” rating in a research report on Friday, October 30th. Twelve investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $249.32.

Republic Services Trading Up 1.0%

Shares of NYSE:RSG opened at $245.35 on Monday. Republic Services has a 52 week low of $196.41 and a 52 week high of $249.37. The company’s 50 day moving average is $223.85 and its two-hundred day moving average is $217.32. The company has a market cap of $74.74 billion, a PE ratio of 33.94, a P/E/G ratio of 4.04 and a beta of 0.32. The company has a current ratio of 0.75, a quick ratio of 0.64 and a debt-to-equity ratio of 1.14.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, October 29th. The business services provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.01. The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.42 billion. Republic Services had a net margin of 12.93% and a return on equity of 18.56%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Equities analysts predict that Republic Services will post 7.26 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, January 4th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, January 4th. Republic Services’s payout ratio is presently 37.07%.

Insider Activity at Republic Services

In related news, EVP Brian A. Bales sold 3,400 shares of Republic Services stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $244.00, for a total value of $829,600.00. Following the sale, the executive vice president owned 17,616 shares of the company’s stock, valued at approximately $4,298,304. This trade represents a 16.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 324,810 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was acquired at an average cost of $222.89 per share, with a total value of $72,396,900.90. Following the transaction, the insider owned 117,058,444 shares of the company’s stock, valued at $26,091,156,583.16. This represents a 0.28% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 6,254,462 shares of company stock worth $1,380,321,958 over the last 90 days. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Republic Services

Several large investors have recently made changes to their positions in RSG. BlackRock Inc. purchased a new position in Republic Services during the 2nd quarter worth $3,798,092,000. State Street Corp increased its position in Republic Services by 1.6% in the second quarter. State Street Corp now owns 9,953,507 shares of the business services provider’s stock worth $2,120,893,000 after buying an additional 160,051 shares during the last quarter. Bank of America Corp DE purchased a new stake in Republic Services during the second quarter valued at about $682,573,000. Pictet Asset Management Holding SA lifted its stake in shares of Republic Services by 14.0% during the 3rd quarter. Pictet Asset Management Holding SA now owns 2,814,825 shares of the business services provider’s stock valued at $590,761,000 after buying an additional 345,719 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Republic Services by 68.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider’s stock valued at $497,828,000 after purchasing an additional 913,249 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

About Republic Services

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.