Republic Services (NYSE:RSG) Rating Lowered to Buy at StockNews.com

StockNews.com downgraded shares of Republic Services (NYSE:RSG) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

A number of other equities analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Republic Services in a research report on Thursday, May 23rd. They set a hold rating and a $203.00 price objective for the company. Oppenheimer boosted their target price on Republic Services from $204.00 to $211.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Truist Financial upgraded Republic Services from a hold rating to a buy rating and boosted their target price for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. The Goldman Sachs Group boosted their target price on Republic Services from $209.00 to $230.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Finally, Scotiabank boosted their target price on Republic Services from $211.00 to $213.00 and gave the stock a sector perform rating in a research note on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and nine have assigned 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 $211.69.

Republic Services Stock Performance

Shares of Republic Services stock opened at $190.30 on Wednesday. Republic Services has a one year low of $140.23 and a one year high of $206.54. The company has a market cap of $59.93 billion, a PE ratio of 33.39, a P/E/G ratio of 3.14 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.59. The business has a 50-day simple moving average of $192.24 and a 200-day simple moving average of $186.01.

Republic Services (NYSE:RSG) last announced 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 17.81% and a net margin of 12.11%. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the company posted $1.24 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts forecast that Republic Services will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, October 2nd. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio is 37.54%.

Insider Transactions at Republic Services

In other Republic Services news, Director Katharine Weymouth acquired 540 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the acquisition, the director now directly owns 540 shares of the company’s stock, valued at approximately $100,040.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katharine Weymouth bought 540 shares of the stock in a transaction on Tuesday, June 4th. The stock was purchased at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the acquisition, the director now directly owns 540 shares of the company’s stock, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Republic Services

Several large investors have recently bought and sold shares of the company. HB Wealth Management LLC grew its holdings in Republic Services by 9.5% in the second quarter. HB Wealth Management LLC now owns 13,940 shares of the business services provider’s stock valued at $2,709,000 after purchasing an additional 1,212 shares during the last quarter. Detalus Advisors LLC grew its holdings in Republic Services by 20.8% in the second quarter. Detalus Advisors LLC now owns 1,954 shares of the business services provider’s stock valued at $380,000 after purchasing an additional 336 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Republic Services by 2.7% in the second quarter. Checchi Capital Advisers LLC now owns 3,652 shares of the business services provider’s stock valued at $710,000 after acquiring an additional 95 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Republic Services by 74.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 31,981 shares of the business services provider’s stock valued at $6,215,000 after acquiring an additional 13,602 shares in the last quarter. Finally, Latitude Advisors LLC lifted its position in shares of Republic Services by 6.2% in the second quarter. Latitude Advisors LLC now owns 1,429 shares of the business services provider’s stock valued at $278,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds 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.