Republic Services (NYSE:RSG) Price Target Raised to $227.00

Republic Services (NYSE:RSG) had its price target hoisted by CIBC from $217.00 to $227.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada increased their price objective on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. William Blair assumed coverage on Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Truist Financial upped their price objective on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their target price on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley increased their price target on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $217.88.

Republic Services Stock Up 0.6 %

Republic Services stock opened at $216.70 on Wednesday. The firm has a market capitalization of $67.86 billion, a P/E ratio of 34.67, a P/E/G ratio of 3.28 and a beta of 0.71. The stock’s fifty day simple moving average is $207.21 and its 200-day simple moving average is $200.67. Republic Services has a twelve month low of $160.41 and a twelve month high of $220.58. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the company earned $1.54 EPS. Republic Services’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts expect that Republic Services will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is presently 37.12%.

Insider Buying and Selling at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new position in shares of Republic Services in the 3rd quarter valued at about $25,000. Wolff Wiese Magana LLC increased its holdings in Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after buying an additional 109 shares in the last quarter. Webster Bank N. A. purchased a new stake in shares of Republic Services during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC acquired a new stake in shares of Republic Services in the 3rd quarter worth approximately $34,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Republic Services in the 2nd quarter valued at approximately $36,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

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.