The Goldman Sachs Group initiated coverage on shares of Republic Services (NYSE:RSG) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage issued a buy rating and a $117.00 price target on the business services provider’s stock.
A number of other brokerages have also issued reports on RSG. Morgan Stanley increased their target price on shares of Republic Services from $99.00 to $100.00 and gave the stock an equal weight rating in a research report on Monday, March 1st. JPMorgan Chase & Co. upgraded shares of Republic Services from a neutral rating to an overweight rating and set a $102.00 price target on the stock in a research report on Monday, March 1st. Bank of America lowered shares of Republic Services from a buy rating to a neutral rating in a research report on Monday, January 11th. Zacks Investment Research lowered shares of Republic Services from a hold rating to a sell rating and set a $101.00 price target on the stock. in a research report on Wednesday, January 13th. Finally, Raymond James increased their price target on shares of Republic Services from $102.00 to $111.00 and gave the stock an outperform rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $100.54.
Shares of RSG stock opened at $103.63 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50-day moving average is $96.63 and its 200-day moving average is $94.94. The stock has a market cap of $33.06 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 2.77 and a beta of 0.64. Republic Services has a 52-week low of $75.34 and a 52-week high of $104.33.
Republic Services (NYSE:RSG) last announced its earnings results on Sunday, February 21st. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.18. Republic Services had a net margin of 10.05% and a return on equity of 13.59%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the business posted $0.91 EPS. The business’s revenue was down .1% compared to the same quarter last year. Sell-side analysts predict that Republic Services will post 3.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 1st will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, March 31st. Republic Services’s dividend payout ratio (DPR) is presently 50.90%.
In other news, major shareholder Cascade Investment, L.L.C. bought 10,055 shares of the firm’s stock in a transaction that occurred on Wednesday, March 31st. The shares were acquired at an average price of $99.44 per share, with a total value of $999,869.20. Following the acquisition, the insider now owns 108,812,574 shares of the company’s stock, valued at approximately $10,820,322,358.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its holdings in Republic Services by 14.0% during the 4th quarter. Wells Fargo & Company MN now owns 4,752,782 shares of the business services provider’s stock worth $457,693,000 after acquiring an additional 583,293 shares during the period. Dimensional Fund Advisors LP increased its holdings in Republic Services by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,887,383 shares of the business services provider’s stock worth $374,339,000 after acquiring an additional 50,881 shares during the period. Parnassus Investments CA grew its stake in Republic Services by 4.6% in the 4th quarter. Parnassus Investments CA now owns 2,865,224 shares of the business services provider’s stock worth $275,921,000 after buying an additional 125,911 shares in the last quarter. Norges Bank purchased a new position in Republic Services in the 4th quarter worth approximately $208,205,000. Finally, Nordea Investment Management AB grew its stake in Republic Services by 32.1% in the 4th quarter. Nordea Investment Management AB now owns 2,036,149 shares of the business services provider’s stock worth $196,081,000 after buying an additional 494,819 shares in the last quarter. 56.78% of the stock is currently owned by institutional investors and hedge funds.
About Republic Services
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, disposal, recycling, and environmental services in the United States. The company serves small-container, large-container, and municipal and residential customers. The company's collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.
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