Republic Services EVP Sells $872,999 in Stock (RSG)
Republic Services (NYSE:RSG) EVP Michael P. Rissman sold 22,242 shares of the stock on the open market in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $39.25, for a total transaction of $872,998.50. Following the completion of the sale, the executive vice president now directly owns 23,438 shares of the company’s stock, valued at approximately $919,942. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Republic Services (NYSE:RSG) traded down 0.41% on Thursday, hitting $39.25. 1,226,126 shares of the company’s stock traded hands. Republic Services has a 1-year low of $31.42 and a 1-year high of $39.66. The stock has a 50-day moving average of $38.10 and a 200-day moving average of $35.8. The company has a market cap of $13.961 billion and a price-to-earnings ratio of 19.77.
Republic Services (NYSE:RSG) last released its earnings data on Thursday, July 24th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.49 by $0.02. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts predict that Republic Services will post $1.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Monday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.26.
A number of research firms have recently commented on RSG. Analysts at Zacks reiterated a “neutral” rating on shares of Republic Services in a research note on Monday, July 28th. They now have a $39.00 price target on the stock. Separately, analysts at Imperial Capital raised their price target on shares of Republic Services from $41.00 to $43.50 in a research note on Friday, July 25th. They now have an “outperform” rating on the stock. Finally, analysts at Raymond James upgraded shares of Republic Services from a “market perform” rating to a “strong-buy” rating in a research note on Tuesday, June 10th. They now have a $42.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $39.10.
Republic Services, Inc (NYSE:RSG) is a provider of services in the domestic non-hazardous solid waste industry.
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