Truist Financial Boosts Republic Services (NYSE:RSG) Price Target to $244.00

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

A number of other research analysts have also recently commented on the stock. Robert W. Baird raised their price target on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Stifel Nicolaus lifted their price target on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com downgraded Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. TD Cowen upped 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. Finally, Oppenheimer raised their price target on Republic Services from $210.00 to $219.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Price Performance

Republic Services stock opened at $198.58 on Wednesday. The firm has a market capitalization of $62.19 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 3.04 and a beta of 0.70. Republic Services has a 12-month low of $148.36 and a 12-month high of $208.69. The firm has a 50-day moving average price of $203.43 and a 200-day moving average price of $196.81. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the business earned $1.54 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that Republic Services will post 6.23 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.17%. Republic Services’s payout ratio is 37.12%.

Insider Activity at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. TD Asset Management Inc increased its holdings in Republic Services by 424.7% in the 1st quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock worth $329,680,000 after buying an additional 1,393,918 shares during the period. Capital World Investors lifted its position in Republic Services by 20.5% during the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after purchasing an additional 1,346,588 shares during the period. M&G Plc purchased a new stake in Republic Services in the first quarter valued at $130,892,000. International Assets Investment Management LLC raised its stake in shares of 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 valued at $108,183,000 after buying an additional 538,010 shares during the last quarter. Finally, Earnest Partners LLC lifted its holdings in shares of Republic Services by 16.9% in the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock valued at $241,697,000 after buying an additional 182,645 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

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.