Republic Services (NYSE:RSG) Sets New 1-Year High – Here’s What Happened

Republic Services, Inc. (NYSE:RSG) shares reached a new 52-week high during trading on Friday . The company traded as high as $216.32 and last traded at $215.97, with a volume of 63125 shares traded. The stock had previously closed at $214.06.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RSG. CIBC increased their price target on Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. TD Cowen raised their target price on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Truist Financial upped their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer upped their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Stock Up 1.3 %

The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm has a 50-day simple moving average of $204.56 and a two-hundred day simple moving average of $198.93. The stock has a market cap of $67.89 billion, a P/E ratio of 34.69, a PEG ratio of 3.27 and a beta of 0.70.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the business posted $1.54 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts expect that Republic Services, Inc. will post 6.24 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 Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services’s payout ratio is presently 37.12%.

Insider Buying and Selling

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FSA Wealth Management LLC bought a new position in Republic Services in the 3rd quarter valued at approximately $25,000. Wolff Wiese Magana LLC lifted 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 last quarter. EntryPoint Capital LLC acquired a new stake in shares of Republic Services during the 1st quarter valued at $29,000. Webster Bank N. A. bought a new stake in Republic Services during the 3rd quarter worth $31,000. Finally, Truvestments Capital LLC bought a new position in Republic Services in the third quarter valued at about $34,000. Institutional investors 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.