Scotiabank Boosts Republic Services (NYSE:RSG) Price Target to $213.00

Republic Services (NYSE:RSG) had its target price upped by Scotiabank from $211.00 to $213.00 in a research note released on Wednesday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the business services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their target price on shares of Republic Services from $180.00 to $188.00 and gave the stock an overweight rating in a research note on Tuesday, February 6th. Royal Bank of Canada assumed coverage on Republic Services in a research note on Monday, April 8th. They issued a sector perform rating and a $198.00 price objective on the stock. BMO Capital Markets raised their target price on Republic Services from $173.00 to $195.00 and gave the stock a market perform rating in a research note on Wednesday, February 28th. UBS Group boosted their price target on Republic Services from $195.00 to $200.00 and gave the company a neutral rating in a research note on Wednesday. Finally, Morgan Stanley downgraded shares of Republic Services from an overweight rating to an equal weight rating and set a $199.00 price objective for the company. in a research report on Friday, March 15th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $201.00.

Republic Services Stock Performance

Shares of Republic Services stock opened at $185.51 on Wednesday. The stock has a market cap of $58.43 billion, a price-to-earnings ratio of 32.55, a P/E/G ratio of 3.25 and a beta of 0.67. The company has a quick ratio of 0.56, a current ratio of 0.53 and a debt-to-equity ratio of 1.05. Republic Services has a twelve month low of $140.07 and a twelve month high of $196.76. The company’s fifty day moving average is $188.01 and its 200 day moving average is $171.68.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.10. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Sell-side analysts forecast that Republic Services will post 6.01 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be issued a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.15%. Republic Services’s dividend payout ratio is presently 37.54%.

Insider Activity at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the transaction, the chief executive officer now owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Republic Services

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Republic Services by 0.7% during the third quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider’s stock valued at $948,971,000 after acquiring an additional 44,512 shares during the last quarter. Capital World Investors raised its stake in shares of Republic Services by 416.9% during the 4th quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock worth $1,082,209,000 after purchasing an additional 5,292,862 shares during the period. Morgan Stanley increased its holdings in Republic Services by 4.1% during the third quarter. Morgan Stanley now owns 5,054,359 shares of the business services provider’s stock worth $720,297,000 after buying an additional 197,654 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Republic Services by 2.9% during the 3rd quarter. Nordea Investment Management AB now owns 3,790,052 shares of the business services provider’s stock valued at $547,473,000 after acquiring an additional 107,499 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Republic Services by 0.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,727,719 shares of the business services provider’s stock worth $531,237,000 after purchasing an additional 13,166 shares during the last quarter. 57.73% of the stock is owned by 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.