Republic Services (NYSE:RSG) Reaches New 1-Year High – Here’s What Happened

Republic Services, Inc. (NYSE:RSG)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $244.00 and last traded at $243.57, with a volume of 1366436 shares changing hands. The stock had previously closed at $242.16.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RSG shares. Argus set a $260.00 price target on Republic Services in a research note on Tuesday, February 18th. Jefferies Financial Group upped their target price on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley increased their price target on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus upped their price objective 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. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.88.

Republic Services Trading Up 0.6 %

The business has a fifty day moving average price of $228.86 and a 200 day moving average price of $214.39. The firm has a market cap of $76.06 billion, a PE ratio of 37.53, a P/E/G ratio of 3.64 and a beta of 0.73. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter last year, the company posted $1.41 earnings per share. Analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.95%. Republic Services’s dividend payout ratio is presently 35.75%.

Insider Buying and Selling at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Republic Services during the fourth quarter valued at approximately $553,039,000. Stifel Financial Corp grew its stake 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 buying an additional 1,477,255 shares in the last quarter. Wellington Management Group LLP grew its position in Republic Services by 23.2% in 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in Republic Services during the 4th quarter worth $184,827,000. Finally, Nordea Investment Management AB increased its position in shares of Republic Services by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after acquiring an additional 509,116 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

About Republic Services

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.