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

Republic Services, Inc. (NYSE:RSG)’s stock price hit a new 52-week high during mid-day trading on Monday after the company announced a dividend. 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. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and upped their target price for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Morgan Stanley upped 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 upped their target price on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Oppenheimer upped their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Truist Financial upped their price objective on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.38.

Republic Services Price Performance

The company’s fifty day moving average is $210.01 and its two-hundred day moving average is $206.36. The firm has a market capitalization of $69.39 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth 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.

Insiders Place Their Bets

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

Institutional Trading of Republic Services

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FSA Wealth Management LLC bought a new stake in shares of Republic Services during the 3rd quarter worth approximately $25,000. Arcadia Investment Management Corp MI lifted its holdings in shares of Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after acquiring an additional 88 shares during the period. Wolff Wiese Magana LLC lifted its holdings in shares of Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after acquiring an additional 109 shares during the period. Webster Bank N. A. bought a new stake in shares of Republic Services during the 3rd quarter worth approximately $31,000. Finally, R Squared Ltd bought a new stake in shares of Republic Services during the 4th quarter worth approximately $32,000. 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.