Republic Services (NYSE:RSG) Price Target Raised to $230.00

Republic Services (NYSE:RSG) had its price target increased by Morgan Stanley from $220.00 to $230.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the business services provider’s stock.

Other equities research analysts also recently issued reports about the company. Truist Financial boosted their target price on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Jefferies Financial Group boosted their target price on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. CIBC boosted their target price on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and upped their price target for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.38.

Republic Services Price Performance

Shares of RSG stock opened at $230.98 on Friday. The stock has a market cap of $72.33 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 3.24 and a beta of 0.74. The business’s fifty day moving average is $210.94 and its 200 day moving average is $207.43. Republic Services has a twelve month low of $177.03 and a twelve month high of $232.52. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. During the same period in the prior year, the firm earned $1.41 earnings per share. Research analysts expect that Republic Services will post 6.25 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s payout ratio is 37.12%.

Insiders Place Their Bets

In related news, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now owns 879 shares in the company, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction dated Tuesday, November 19th. The stock was 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. This represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Republic Services

Institutional investors have recently made changes to their positions in the business. FSA Wealth Management LLC purchased a new stake in shares of Republic Services during the third quarter worth about $25,000. Arcadia Investment Management Corp MI grew its position in shares of Republic Services by 200.0% during 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. Wolff Wiese Magana LLC grew 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. R Squared Ltd bought a new position in Republic Services during the fourth quarter valued at approximately $32,000. Finally, Truvestments Capital LLC bought a new position in Republic Services during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

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.