Republic Services (NYSE:RSG) Price Target Raised to $230.00

Republic Services (NYSE:RSG) had its target price hoisted by The Goldman Sachs Group from $209.00 to $230.00 in a research report report published on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the business services provider’s stock.

RSG has been the subject of several other reports. Stifel Nicolaus lifted their price objective on shares of Republic Services from $175.00 to $187.00 and gave the stock a buy rating in a research note on Tuesday, December 19th. Truist Financial lifted their price objective on shares of Republic Services from $175.00 to $192.00 and gave the stock a hold rating in a research note on Wednesday, February 28th. Wells Fargo & Company lifted their price objective on shares of Republic Services from $180.00 to $188.00 and gave the stock an overweight rating in a research note on Tuesday, February 6th. BMO Capital Markets boosted their target price on shares of Republic Services from $173.00 to $195.00 and gave the company a market perform rating in a research note on Wednesday, February 28th. Finally, Morgan Stanley lowered shares of Republic Services from an overweight rating to an equal weight rating and set a $199.00 target price for the company. in a research note on Friday, March 15th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Republic Services currently has an average rating of Moderate Buy and an average target price of $199.77.

Republic Services Trading Down 0.0 %

RSG stock opened at $188.94 on Tuesday. The firm has a fifty day moving average price of $185.57 and a 200 day moving average price of $168.49. Republic Services has a fifty-two week low of $135.33 and a fifty-two week high of $192.57. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $59.51 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 3.28 and a beta of 0.68.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the firm posted $1.13 earnings per share. Republic Services’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that Republic Services will post 6.01 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, April 1st. Republic Services’s payout ratio is 39.12%.

Insider Buying and Selling at Republic Services

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the sale, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Institutional Trading of Republic Services

Hedge funds have recently modified their holdings of the company. FinTrust Capital Advisors LLC raised its position in shares of Republic Services by 56.3% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 71 shares during the last quarter. Bogart Wealth LLC purchased a new position in shares of Republic Services in the 4th quarter valued at approximately $30,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Republic Services in the 4th quarter valued at approximately $34,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Republic Services in the 1st quarter valued at approximately $34,000. Finally, Millburn Ridgefield Corp purchased a new position in shares of Republic Services in the 3rd quarter valued at approximately $36,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

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.