Republic Services (NYSE:RSG) Price Target Raised to $220.00

Republic Services (NYSE:RSG) had its target price boosted by Oppenheimer from $219.00 to $220.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

A number of other research analysts also recently commented on RSG. CIBC increased their target price on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. TD Cowen increased their price target on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a report on Monday, August 5th. Truist Financial increased their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday. BMO Capital Markets increased their price target on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Trading Up 0.3 %

Shares of NYSE:RSG opened at $198.58 on Wednesday. The stock has a 50 day moving average of $203.43 and a 200 day moving average of $196.74. The company has a market cap of $62.19 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 3.04 and a beta of 0.70. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. Republic Services has a 12-month low of $148.36 and a 12-month high of $208.69.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the company posted $1.54 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts expect that Republic Services will post 6.23 EPS for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, January 2nd. Republic Services’s payout ratio is 37.12%.

Insider Activity at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now owns 17,486 shares of the company’s stock, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Republic Services

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Republic Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after acquiring an additional 101,518 shares during the last quarter. Capital World Investors lifted its holdings in shares of Republic Services by 20.5% during the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after purchasing an additional 1,346,588 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Republic Services by 2.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after purchasing an additional 57,040 shares during the period. Legal & General Group Plc lifted its holdings in shares of Republic Services by 5.4% during the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock worth $351,480,000 after purchasing an additional 92,013 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of Republic Services by 2.1% during the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after purchasing an additional 35,650 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

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.