Republic Services (NYSE:RSG) Sets New 52-Week High – Here’s Why

Shares of Republic Services, Inc. (NYSE:RSG) hit a new 52-week high on Thursday. The stock traded as high as $249.64 and last traded at $251.3070, with a volume of 63,129 shares changing hands. The stock had previously closed at $245.41.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on RSG shares. Sanford C. Bernstein raised their price objective on Republic Services from $220.00 to $227.00 and gave the stock a “market perform” rating in a report on Monday, August 10th. JPMorgan Chase & Co. upped their target price on shares of Republic Services from $245.00 to $265.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Scotiabank reissued a “sector perform” rating and set a $236.00 target price on shares of Republic Services in a research note on Thursday, October 15th. Weiss Ratings upgraded Republic Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Finally, Oppenheimer restated an “outperform” rating on shares of Republic Services in a research report on Friday, October 30th. Twelve investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.32.

Republic Services Trading Down 1.1%

The firm has a market cap of $75.17 billion, a PE ratio of 33.93, a PEG ratio of 4.09 and a beta of 0.32. The firm has a fifty day simple moving average of $224.95 and a two-hundred day simple moving average of $217.69. 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 posted its quarterly earnings data on Thursday, October 29th. The business services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.01. Republic Services had a return on equity of 18.56% and a net margin of 12.93%. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period last year, the company earned $1.90 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts forecast that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, January 4th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, January 4th. This represents a $2.68 annualized dividend and a dividend yield of 1.1%. Republic Services’s payout ratio is 37.07%.

Insider Activity at Republic Services

In other Republic Services news, EVP Brian Bales sold 3,400 shares of Republic Services stock in a transaction 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 completion of the transaction, the executive vice president owned 17,616 shares in the company, valued at approximately $4,298,304. The trade was a 16.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 324,810 shares of Republic Services stock in a transaction dated Friday, September 11th. The stock was bought at an average price of $222.89 per share, with a total value of $72,396,900.90. Following the acquisition, the insider directly owned 117,058,444 shares of the company’s stock, valued at approximately $26,091,156,583.16. This trade represents a 0.28% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 6,254,462 shares of company stock valued at $1,380,321,958. 0.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Republic Services

Large investors have recently modified their holdings of the stock. Diversified Trust Co grew its holdings in Republic Services by 46.6% during the 3rd quarter. Diversified Trust Co now owns 12,514 shares of the business services provider’s stock valued at $2,626,000 after buying an additional 3,976 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of Republic Services by 3.2% during the 3rd quarter. Aberdeen Group plc now owns 153,658 shares of the business services provider’s stock worth $31,540,000 after acquiring an additional 4,821 shares during the period. Moors & Cabot Inc. boosted its position in shares of Republic Services by 2.9% during the third quarter. Moors & Cabot Inc. now owns 5,378 shares of the business services provider’s stock worth $1,129,000 after buying an additional 153 shares during the period. Money Concepts Capital Corp raised its holdings in shares of Republic Services by 11.6% in the 3rd quarter. Money Concepts Capital Corp now owns 11,217 shares of the business services provider’s stock valued at $2,354,000 after purchasing an additional 1,169 shares in the last quarter. Finally, Allworth Financial LP acquired a new position in shares of Republic Services in the 3rd quarter valued at $719,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Company Profile

Republic Services, Inc provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials.

The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.

Headquartered in Phoenix, Arizona, Republic Services is led by Chief Executive Officer Jon Vander Ark.