Republic Services (NYSE:RSG) Price Target Raised to $220.00

Republic Services (NYSE:RSG) had its target price hoisted by Morgan Stanley from $217.00 to $220.00 in a research note issued to investors on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

A number of other brokerages have also issued reports on RSG. CIBC increased their target price on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and increased their price objective for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. Oppenheimer upped their price target on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Scotiabank started coverage on Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective on the stock. Finally, William Blair began coverage on Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $220.06.

Republic Services Price Performance

Shares of NYSE RSG opened at $208.97 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The firm’s 50 day simple moving average is $208.53 and its 200-day simple moving average is $201.84. Republic Services has a 12 month low of $160.65 and a 12 month high of $220.58. The stock has a market capitalization of $65.44 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 3.21 and a beta of 0.71.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the company earned $1.54 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts expect that Republic Services will post 6.25 EPS for the current year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.11%. Republic Services’s payout ratio is 37.12%.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares in the company, valued at $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. 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 acquired a new position in Republic Services during the 3rd quarter worth about $25,000. Wolff Wiese Magana LLC lifted its position in shares of Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after purchasing an additional 109 shares in the last quarter. Webster Bank N. A. acquired a new position in shares of Republic Services in the third quarter valued at approximately $31,000. Truvestments Capital LLC purchased a new stake in Republic Services during 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 currently owned by institutional investors and hedge funds.

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.