Republic Services (NYSE:RSG) Now Covered by Analysts at The Goldman Sachs Group
The Goldman Sachs Group assumed coverage on shares of Republic Services (NYSE:RSG) in a report issued on Wednesday, The Fly reports. The brokerage issued a buy rating and a $117.00 price target on the business services provider’s stock.
Other equities analysts have also issued reports about the company. Robert W. Baird lowered Republic Services from an outperform rating to a neutral rating and reduced their price objective for the company from $103.00 to $96.00 in a report on Tuesday, February 16th. Zacks Investment Research cut Republic Services from a hold rating to a sell rating and set a $101.00 price objective on the stock. in a research note on Wednesday, January 13th. Morgan Stanley increased their target price on shares of Republic Services from $99.00 to $100.00 and gave the stock an equal weight rating in a research report on Monday, March 1st. Bank of America lowered shares of Republic Services from a buy rating to a neutral rating in a research report on Monday, January 11th. Finally, JPMorgan Chase & Co. raised shares of Republic Services from a neutral rating to an overweight rating and set a $102.00 price objective for the company in a report on Monday, March 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $99.86.
Shares of Republic Services stock opened at $102.38 on Wednesday. The firm has a market cap of $32.65 billion, a PE ratio of 32.09, a P/E/G ratio of 2.77 and a beta of 0.64. Republic Services has a 1 year low of $74.82 and a 1 year high of $103.79. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a fifty day moving average price of $95.14 and a 200-day moving average price of $94.67.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 1st will be given a dividend of $0.425 per share. The ex-dividend date is Wednesday, March 31st. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.66%. Republic Services’s dividend payout ratio (DPR) is currently 50.90%.
In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 10,055 shares of Republic Services stock in a transaction that occurred on Wednesday, March 31st. The stock was acquired at an average cost of $99.44 per share, for a total transaction of $999,869.20. Following the completion of the transaction, the insider now directly owns 108,812,574 shares in the company, valued at $10,820,322,358.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in RSG. ADE LLC bought a new position in shares of Republic Services in the 4th quarter worth $33,000. Arkadios Wealth Advisors increased its stake in Republic Services by 153.5% in the fourth quarter. Arkadios Wealth Advisors now owns 365 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 221 shares during the last quarter. Clearview Wealth Advisors LLC purchased a new stake in Republic Services during the fourth quarter valued at about $36,000. Advisory Services Network LLC lifted its stake in Republic Services by 82.7% during the fourth quarter. Advisory Services Network LLC now owns 506 shares of the business services provider’s stock worth $49,000 after purchasing an additional 229 shares during the last quarter. Finally, Liberty Wealth Management LLC purchased a new position in shares of Republic Services in the 4th quarter worth about $58,000. Institutional investors and hedge funds own 56.78% of the company’s stock.
About Republic Services
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, disposal, recycling, and environmental services in the United States. The company serves small-container, large-container, and municipal and residential customers. The company's collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.
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