Republic Services (NYSE:RSG) Upgraded at Cibc World Mkts

Cibc World Mkts upgraded shares of Republic Services (NYSE:RSG) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other research analysts have also weighed in on RSG. Argus set a $260.00 target price on Republic Services in a research note on Tuesday, February 18th. Truist Financial reiterated a “buy” rating and set a $250.00 target price (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Stifel Nicolaus lifted their target price on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price for the company in a research note on Tuesday. Finally, William Blair restated an “outperform” rating on shares of Republic Services in a research note on Friday, February 14th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.88.

Republic Services Trading Down 1.9 %

NYSE:RSG opened at $231.33 on Tuesday. Republic Services has a fifty-two week low of $180.91 and a fifty-two week high of $240.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The stock has a market capitalization of $72.24 billion, a PE ratio of 35.64, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. The business’s 50-day simple moving average is $218.28 and its 200-day simple moving average is $210.60.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the firm earned $1.41 EPS. Sell-side analysts expect that Republic Services will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.00%. Republic Services’s payout ratio is presently 35.75%.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of the 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 sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Republic Services

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Republic Services by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock worth $3,740,083,000 after acquiring an additional 144,719 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Republic Services by 3.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider’s stock worth $1,259,855,000 after acquiring an additional 218,729 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Republic Services by 23.2% in the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after acquiring an additional 1,131,850 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Republic Services by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock worth $1,069,836,000 after acquiring an additional 499,237 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Republic Services by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider’s stock worth $918,045,000 after acquiring an additional 57,616 shares in the last quarter. 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.