Insider Buying: Republic Services, Inc. (NYSE:RSG) Director Purchases $14,803.02 in Stock

Republic Services, Inc. (NYSE:RSGGet Free Report) Director Sandra M. Volpe acquired 79 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were acquired at an average price of $187.38 per share, with a total value of $14,803.02. Following the completion of the transaction, the director now directly owns 179 shares in the company, valued at approximately $33,541.02. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Republic Services Price Performance

NYSE RSG opened at $188.25 on Friday. The company has a market cap of $59.29 billion, a P/E ratio of 33.03, a P/E/G ratio of 3.03 and a beta of 0.67. Republic Services, Inc. has a 1 year low of $140.07 and a 1 year high of $196.76. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. The company has a fifty day simple moving average of $188.72 and a 200 day simple moving average of $174.84.

Republic Services (NYSE:RSGGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the business posted $1.24 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Republic Services, Inc. will post 6.05 EPS for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a $0.535 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a dividend yield of 1.14%. Republic Services’s dividend payout ratio is 37.54%.

Hedge Funds Weigh In On Republic Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors grew its holdings in shares of Republic Services by 416.9% during the 4th quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock worth $1,082,209,000 after purchasing an additional 5,292,862 shares in the last quarter. Norges Bank bought a new stake in Republic Services in the 4th quarter valued at $358,837,000. TD Asset Management Inc raised its stake in shares of Republic Services by 424.7% in the 1st quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after buying an additional 1,393,918 shares in the last quarter. Magellan Asset Management Ltd lifted its holdings in shares of Republic Services by 1,497,159.0% during the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after acquiring an additional 913,267 shares during the period. Finally, M&G Plc acquired a new stake in shares of Republic Services during the 1st quarter valued at about $130,892,000. Institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RSG shares. Morgan Stanley downgraded shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective on the stock. in a research report on Friday, March 15th. Scotiabank increased their price objective on Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 1st. Truist Financial boosted their target price on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Royal Bank of Canada started coverage on Republic Services in a research note on Monday, April 8th. They set a “sector perform” rating and a $198.00 price target for the company. Finally, The Goldman Sachs Group increased their price objective on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.00.

Read Our Latest Analysis on RSG

Republic Services Company Profile

(Get Free Report)

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.

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