Republic Services (NYSE:RSG) Sets New 12-Month High After Dividend Announcement

Republic Services, Inc. (NYSE:RSG) shares reached a new 52-week high on Monday following a dividend announcement from the company. The stock traded as high as $223.43 and last traded at $221.18, with a volume of 36535 shares trading hands. The stock had previously closed at $221.07.

The newly announced dividend which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be given a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 1.05%. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Analyst Ratings Changes

A number of research firms have issued reports on RSG. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $219.00 to $237.00 in a report on Monday, January 6th. Jefferies Financial Group increased their price objective on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Truist Financial increased their price objective on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $211.00 to $238.00 in a report on Friday, December 6th. Finally, Oppenheimer increased their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $224.38.

Republic Services Stock Up 0.2 %

The company’s 50 day moving average price is $210.01 and its 200 day moving average price is $206.36. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $69.39 billion, a price-to-earnings ratio of 35.44, a P/E/G ratio of 3.24 and a beta of 0.74.

Insider Activity at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now owns 879 shares in the company, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Republic Services

Hedge funds have recently made changes to their positions in the business. Stifel Financial Corp grew its position in Republic Services by 437.9% in the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after buying an additional 1,477,255 shares during the last quarter. Wellington Management Group LLP grew its position in Republic Services by 23.2% in the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after buying an additional 1,131,850 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Republic Services during the 4th quarter worth approximately $184,827,000. International Assets Investment Management LLC grew its position in Republic Services by 83,671.9% during the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock worth $108,183,000 after purchasing an additional 538,010 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after purchasing an additional 509,116 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

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.