Republic Services (NYSE:RSG) Reaches New 12-Month High on Analyst Upgrade

Republic Services, Inc. (NYSE:RSG) shares hit a new 52-week high during trading on Wednesday after Citigroup raised their price target on the stock from $265.00 to $278.00. Citigroup currently has a buy rating on the stock. Republic Services traded as high as $251.70 and last traded at $251.28, with a volume of 1674935 shares traded. The stock had previously closed at $247.70.

Several other equities analysts have also commented on the company. UBS Group boosted their price target on Republic Services from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th. BMO Capital Markets raised their price target on shares of Republic Services from $260.00 to $268.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Argus set a $260.00 price objective on shares of Republic Services in a report on Tuesday, February 18th. Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, Morgan Stanley increased their price target on Republic Services from $230.00 to $245.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $249.00.

Insider Transactions at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On Republic Services

Hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC increased its position in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 106 shares during the period. Arcadia Investment Management Corp MI grew its stake in shares of Republic Services by 200.0% in the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after purchasing an additional 88 shares in the last quarter. R Squared Ltd acquired a new position in shares of Republic Services during the fourth quarter valued at $32,000. New Age Alpha Advisors LLC lifted its holdings in Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock worth $36,000 after purchasing an additional 73 shares during the period. Finally, Park Square Financial Group LLC bought a new position in Republic Services in the 4th quarter valued at about $44,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

The company’s 50 day simple moving average is $237.95 and its 200 day simple moving average is $220.38. 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 $78.52 billion, a price-to-earnings ratio of 38.72, a PEG ratio of 3.64 and a beta of 0.62.

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

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 dividend yield of 0.92%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 34.99%.

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.