Republic Services, Inc. (NYSE:RSG) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Republic Services, Inc. (NYSE:RSG) have earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $201.00.

RSG has been the topic of several recent research reports. Truist Financial raised their price objective on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. BMO Capital Markets boosted their price target on Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. The Goldman Sachs Group raised their price objective on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer boosted their target price on shares of Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, Citigroup raised their price target on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 29th.

Insider Activity

In related news, CEO Ark Jon Vander sold 5,446 shares of the business’s 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 sale, the chief executive officer now owns 85,113 shares in the company, valued at $15,669,303.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RSG. JPMorgan Chase & Co. grew its holdings in Republic Services by 0.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider’s stock valued at $948,971,000 after purchasing an additional 44,512 shares during the last quarter. Capital World Investors grew its stake 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 buying an additional 5,292,862 shares during the last quarter. Morgan Stanley raised its holdings in shares of Republic Services by 4.1% in 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 period. Nordea Investment Management AB boosted its holdings in 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 grew its position in Republic Services by 0.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,727,719 shares of the business services provider’s stock valued at $531,237,000 after acquiring an additional 13,166 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Price Performance

Shares of NYSE RSG opened at $186.71 on Tuesday. The business’s 50 day moving average is $188.05 and its 200-day moving average is $172.57. The firm has a market cap of $58.80 billion, a P/E ratio of 32.76, a price-to-earnings-growth ratio of 3.22 and a beta of 0.67. Republic Services has a 1-year low of $140.07 and a 1-year high of $196.76. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the company earned $1.24 EPS. The company’s revenue was up 7.8% on a year-over-year basis. Equities research analysts predict that Republic Services will post 6.05 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be issued a dividend of $0.535 per share. 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 payout ratio is currently 37.54%.

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.