Republic Services (NYSE:RSG) Sets New 12-Month High Following Dividend Announcement

Republic Services, Inc. (NYSE:RSG) shares reached a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $223.43 and last traded at $221.18, with a volume of 36535 shares trading hands. The stock had previously closed at $221.07.

The newly announced dividend which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is 37.12%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $219.00 to $237.00 in a research note on Monday, January 6th. Truist Financial increased their price objective on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their target price on shares of Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Jefferies Financial Group increased their target price on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Oppenheimer upped their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $224.38.

Republic Services Stock Performance

The firm has a market cap of $69.89 billion, a P/E ratio of 35.71, a PEG ratio of 3.24 and a beta of 0.74. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm has a fifty day moving average of $210.15 and a 200-day moving average of $206.59.

Insider Activity

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the transaction, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the sale, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Republic Services

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Republic Services by 37.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock valued at $3,586,000 after acquiring an additional 4,827 shares during the period. TCW Group Inc. lifted its holdings in shares of Republic Services by 13.0% during the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock valued at $23,013,000 after purchasing an additional 13,138 shares in the last quarter. Avanza Fonder AB bought a new stake in Republic Services during the 4th quarter worth approximately $4,430,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Republic Services during the 3rd quarter worth approximately $6,102,000. Finally, Lifeworks Advisors LLC lifted its stake in Republic Services by 1,112.3% in the third quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock valued at $4,312,000 after buying an additional 19,698 shares in the last quarter. Institutional investors and hedge funds 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.