Republic Services (NYSE:RSG) Price Target Raised to $244.00

Republic Services (NYSE:RSG) had its price target raised by Truist Financial from $220.00 to $244.00 in a research report sent to investors on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the business services provider’s stock.

Several other equities research analysts have also weighed in on RSG. Robert W. Baird raised their target price on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Scotiabank initiated coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price on the stock. William Blair initiated coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Raymond James cut their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, Oppenheimer lifted their price target on Republic Services from $210.00 to $219.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Price Performance

RSG stock opened at $198.58 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.59. The firm has a market capitalization of $62.19 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.04 and a beta of 0.70. The business’s 50-day moving average is $203.43 and its two-hundred day moving average is $196.74. Republic Services has a 1 year low of $148.36 and a 1 year high of $208.69.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the company earned $1.54 EPS. Republic Services’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts anticipate that Republic Services will post 6.23 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.17%. Republic Services’s dividend payout ratio is presently 37.12%.

Insider Buying and Selling

In other news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wolff Wiese Magana LLC raised its stake in shares of Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 109 shares during the period. EntryPoint Capital LLC acquired a new stake in Republic Services during the first quarter worth about $29,000. Webster Bank N. A. acquired a new stake in Republic Services during the third quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new stake in Republic Services during the second quarter worth about $36,000. Finally, Indiana Trust & Investment Management CO acquired a new stake in Republic Services during the second quarter worth about $45,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

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.