Republic Services (NYSE:RSG) Price Target Raised to $254.00

Republic Services (NYSE:RSG) had its price objective raised by Barclays from $240.00 to $254.00 in a report issued on Monday morning,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Several other brokerages also recently issued reports on RSG. Deutsche Bank Aktiengesellschaft cut their price target on Republic Services from $270.00 to $258.00 in a report on Friday, October 9th. Scotiabank restated a “sector perform” rating and set a $236.00 price objective on shares of Republic Services in a research note on Thursday, October 15th. Canadian Imperial Bank of Commerce dropped their target price on Republic Services from $249.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, October 8th. BMO Capital Markets set a $244.00 target price on Republic Services in a research note on Thursday, October 15th. Finally, Oppenheimer reissued an “outperform” rating on shares of Republic Services in a report on Friday, October 30th. Twelve investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $249.32.

Republic Services Stock Performance

Republic Services stock opened at $245.35 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.75 and a quick ratio of 0.64. Republic Services has a 12 month low of $196.41 and a 12 month high of $249.37. The company has a fifty day moving average price of $223.85 and a two-hundred day moving average price of $217.32. The company has a market cap of $74.74 billion, a PE ratio of 33.94, a P/E/G ratio of 4.04 and a beta of 0.32.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, October 29th. The business services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.01. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.42 billion. Republic Services had a return on equity of 18.56% and a net margin of 12.93%. Republic Services’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 earnings per share. Research analysts expect that Republic Services will post 7.26 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, January 4th. Republic Services’s payout ratio is currently 37.07%.

Insider Activity

In related news, EVP Brian Bales sold 3,400 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $244.00, for a total value of $829,600.00. Following the completion of the transaction, the executive vice president owned 17,616 shares in the company, valued at $4,298,304. This represents a 16.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 324,810 shares of the stock in a transaction on Friday, September 11th. The shares were bought at an average cost of $222.89 per share, for a total transaction of $72,396,900.90. Following the purchase, the insider owned 117,058,444 shares in the company, valued at $26,091,156,583.16. This trade represents a 0.28% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 6,254,462 shares of company stock valued at $1,380,321,958 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lido Advisors LLC lifted its position in Republic Services by 24.2% during the third quarter. Lido Advisors LLC now owns 8,890 shares of the business services provider’s stock worth $1,866,000 after purchasing an additional 1,733 shares during the period. Cornerstone Wealth Management LLC acquired a new position in Republic Services during the third quarter valued at approximately $214,000. Csenge Advisory Group bought a new stake in Republic Services during the third quarter worth $235,000. Cassia Capital Partners LLC lifted its stake in Republic Services by 1.7% during the third quarter. Cassia Capital Partners LLC now owns 6,179 shares of the business services provider’s stock worth $1,297,000 after purchasing an additional 106 shares during the last quarter. Finally, Marathon Wealth Advisors LLC acquired a new stake in shares of Republic Services in the 3rd quarter valued at $2,843,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Company Profile

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.