Republic Services (NYSE:RSG) Raised to Hold at Melius Research

Melius Research upgraded shares of Republic Services (NYSE:RSG) to a hold rating in a report issued on Monday, MarketBeat Ratings reports. Melius Research currently has $281.00 price objective on the business services provider’s stock.

Several other equities analysts have also weighed in on the stock. Truist Financial raised their price objective on shares of Republic Services from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Seaport Res Ptn raised shares of Republic Services to a “strong-buy” rating in a research report on Tuesday, May 6th. William Blair reaffirmed an “outperform” rating on shares of Republic Services in a research report on Friday, April 25th. Melius started coverage on shares of Republic Services in a research report on Monday. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Republic Services from $229.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, May 23rd. Ten investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $252.68.

Republic Services Stock Performance

RSG stock opened at $248.14 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The stock has a market cap of $77.54 billion, a P/E ratio of 38.23, a P/E/G ratio of 3.64 and a beta of 0.63. The firm has a 50 day simple moving average of $246.67 and a 200 day simple moving average of $229.50. Republic Services has a 52 week low of $185.07 and a 52 week high of $258.75.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. The business had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $1.45 earnings per share. Research analysts anticipate that Republic Services will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is currently 34.99%.

Hedge Funds Weigh In On Republic Services

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in Republic Services by 0.4% during the first quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider’s stock worth $2,415,000 after acquiring an additional 44 shares during the period. Silvercrest Asset Management Group LLC increased its holdings in Republic Services by 0.5% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider’s stock valued at $1,740,000 after buying an additional 46 shares during the period. Elevation Point Wealth Partners LLC increased its holdings in Republic Services by 4.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider’s stock valued at $279,000 after buying an additional 46 shares during the period. Hemington Wealth Management increased its holdings in Republic Services by 6.2% in the 1st quarter. Hemington Wealth Management now owns 806 shares of the business services provider’s stock valued at $195,000 after buying an additional 47 shares during the period. Finally, FORA Capital LLC increased its holdings in Republic Services by 0.7% in the 4th quarter. FORA Capital LLC now owns 7,659 shares of the business services provider’s stock valued at $1,541,000 after buying an additional 50 shares during the period. 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.