Oppenheimer Increases Republic Services (NYSE:RSG) Price Target to $204.00

Republic Services (NYSE:RSG) had its price target upped by Oppenheimer from $202.00 to $204.00 in a research note released on Wednesday, Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

RSG has been the subject of a number of other reports. Morgan Stanley lowered 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. The Goldman Sachs Group increased their price objective on Republic Services from $209.00 to $230.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. UBS Group cut Republic Services from a buy rating to a neutral rating and boosted their target price for the stock from $175.00 to $195.00 in a research report on Thursday, February 29th. Wells Fargo & Company raised their price target on Republic Services from $180.00 to $188.00 and gave the company an overweight rating in a report on Tuesday, February 6th. Finally, Truist Financial boosted their price objective on Republic Services from $175.00 to $192.00 and gave the stock a hold rating in a report on Wednesday, February 28th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $201.00.

Republic Services Price Performance

Shares of NYSE:RSG opened at $185.51 on Wednesday. The firm has a market capitalization of $58.42 billion, a PE 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. The company has a 50-day moving average price of $188.02 and a two-hundred day moving average price of $171.94. Republic Services has a twelve month low of $140.07 and a twelve month high of $196.76.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. Republic Services’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 EPS. Equities analysts forecast that Republic Services will post 6.02 EPS for the current year.

Republic Services Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction on Monday, March 4th. The shares were 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 directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RSG. Capital World Investors boosted its position in shares of Republic Services by 416.9% during the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock valued at $1,082,209,000 after purchasing an additional 5,292,862 shares in the last quarter. Norges Bank purchased a new stake in shares of Republic Services in the 4th quarter worth about $358,837,000. Magellan Asset Management Ltd increased its stake in shares of Republic Services by 1,497,159.0% in the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after acquiring an additional 913,267 shares in the last quarter. FMR LLC lifted its position in Republic Services by 34.4% during the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock valued at $313,865,000 after acquiring an additional 563,761 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Republic Services in the fourth quarter worth about $77,417,000. 57.73% of the stock is owned by hedge funds and other 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.