Republic Services (NYSE:RSG – Free Report) had its price target hoisted by Citigroup from $265.00 to $278.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.
Several other brokerages have also weighed in on RSG. Robert W. Baird increased their target price on Republic Services from $232.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. UBS Group lifted their price objective on Republic Services from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Scotiabank increased their target price on shares of Republic Services from $233.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 8th. Morgan Stanley lifted their price target on shares of Republic Services from $230.00 to $245.00 and gave the company an “equal weight” rating in a research report on Friday, April 25th. Finally, Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and an average price target of $249.00.
Read Our Latest Stock Analysis on RSG
Republic Services Stock Performance
Republic Services (NYSE:RSG – Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the firm posted $1.45 EPS. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that Republic Services will post 6.86 EPS for the current year.
Republic Services Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.93%. Republic Services’s dividend payout ratio is presently 34.99%.
Insiders Place Their Bets
In related news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of RSG. Golden State Wealth Management LLC lifted its stake in Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Arcadia Investment Management Corp MI lifted its position in shares of Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after buying an additional 88 shares during the last quarter. Key Financial Inc boosted its holdings in shares of Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock valued at $30,000 after buying an additional 99 shares during the period. R Squared Ltd acquired a new stake in Republic Services during the fourth quarter worth about $32,000. Finally, 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 acquiring an additional 73 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.
About Republic Services
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.
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