Republic Services (NYSE:RSG) Hits New 1-Year High at $194.10

Republic Services, Inc. (NYSE:RSG) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $194.10 and last traded at $194.10, with a volume of 168313 shares traded. The stock had previously closed at $193.41.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Oppenheimer boosted their target price on shares of Republic Services from $182.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Scotiabank assumed coverage on Republic Services in a research report on Monday, April 8th. They issued a “sector perform” rating and a $211.00 target price for the company. Citigroup upped their price target on Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Royal Bank of Canada began coverage on Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $199.77.

Republic Services Price Performance

The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $60.75 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 3.36 and a beta of 0.68. The stock’s 50 day simple moving average is $187.62 and its 200-day simple moving average is $171.16.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. Republic Services’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 EPS. On average, analysts expect that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors 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 1.11%. The ex-dividend date of this dividend is Tuesday, July 2nd. Republic Services’s payout ratio is 39.12%.

Insiders Place Their Bets

In other news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction that occurred 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 owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Republic Services

Institutional investors have recently made changes to their positions in the business. FinTrust Capital Advisors LLC grew its holdings in Republic Services by 56.3% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after buying an additional 71 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in Republic Services during the first quarter worth $29,000. Bogart Wealth LLC acquired a new position in Republic Services during the 4th quarter valued at $30,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Republic Services in the 4th quarter worth $34,000. Finally, Millburn Ridgefield Corp acquired a new position in shares of Republic Services during the third quarter valued at about $36,000. 57.73% of the stock is currently owned by institutional investors.

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.