Republic Services, Inc. (NYSE:RSG) Receives $236.88 Average Price Target from Brokerages

Republic Services, Inc. (NYSE:RSG) has earned an average rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $236.88.

A number of analysts recently commented on the company. Truist Financial reiterated a “buy” rating and set a $250.00 price target (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. Stifel Nicolaus boosted their price target on shares of Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target on the stock in a report on Tuesday, March 4th.

Republic Services Stock Performance

NYSE RSG opened at $237.91 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The company has a fifty day moving average price of $226.10 and a 200-day moving average price of $213.16. Republic Services has a 1 year low of $180.92 and a 1 year high of $240.95. The firm has a market cap of $74.30 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the business posted $1.41 EPS. As a group, equities research analysts predict that Republic Services will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.98%. Republic Services’s payout ratio is currently 35.75%.

Insider Buying and Selling

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the sale, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Institutional Trading of Republic Services

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Republic Services in the fourth quarter worth $553,039,000. Stifel Financial Corp increased its position in shares of Republic Services by 437.9% in the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after acquiring an additional 1,477,255 shares during the period. Wellington Management Group LLP raised its stake in shares of Republic Services by 23.2% during the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after acquiring an additional 1,131,850 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Republic Services during the fourth quarter worth about $184,827,000. Finally, Nordea Investment Management AB increased its holdings in Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after purchasing an additional 509,116 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.