Republic Services (NYSE:RSG) Upgraded by CIBC to Sector Outperform Rating

CIBC upgraded shares of Republic Services (NYSE:RSG) from a neutral rating to a sector outperform rating in a research note issued to investors on Tuesday morning, Marketbeat reports. They currently have $264.00 target price on the business services provider’s stock.

Several other brokerages also recently weighed in on RSG. William Blair restated an “outperform” rating on shares of Republic Services in a research note on Friday, February 14th. Truist Financial restated a “buy” rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. UBS Group upped their target price on shares of Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Finally, Argus set a $260.00 price objective on shares of Republic Services in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.88.

Republic Services Price Performance

NYSE RSG opened at $235.55 on Tuesday. Republic Services has a fifty-two week low of $180.91 and a fifty-two week high of $240.95. The stock’s 50-day moving average is $217.11 and its two-hundred day moving average is $210.28. The firm has a market cap of $73.56 billion, a P/E ratio of 36.29, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last posted its 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 firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period in the previous year, the company earned $1.41 EPS. On average, analysts anticipate that Republic Services will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is 35.75%.

Insider Activity at Republic Services

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 of the company’s stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Institutional Trading of Republic Services

Several hedge funds have recently modified their holdings of RSG. Janney Montgomery Scott LLC increased its stake in shares of Republic Services by 1.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 55,581 shares of the business services provider’s stock valued at $11,163,000 after buying an additional 726 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Republic Services by 7.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 417,756 shares of the business services provider’s stock worth $83,902,000 after purchasing an additional 29,273 shares during the period. Intact Investment Management Inc. bought a new stake in Republic Services during the 3rd quarter worth about $72,000. National Pension Service lifted its position in Republic Services by 18.9% during the 3rd quarter. National Pension Service now owns 318,629 shares of the business services provider’s stock valued at $63,993,000 after purchasing an additional 50,568 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in shares of Republic Services by 77.0% in the 3rd quarter. QRG Capital Management Inc. now owns 35,627 shares of the business services provider’s stock valued at $7,155,000 after purchasing an additional 15,503 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

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.