Republic Services (NYSE:RSG) Reaches New 1-Year High After Analyst Upgrade

Republic Services, Inc. (NYSE:RSG) reached a new 52-week high during trading on Friday after Argus upgraded the stock from a hold rating to a buy rating. Argus now has a $275.00 price target on the stock. Republic Services traded as high as $254.62 and last traded at $253.9640, with a volume of 23,211 shares. The stock had previously closed at $253.00.

A number of other equities research analysts have also weighed in on RSG. Deutsche Bank decreased their price objective on shares of Republic Services from $270.00 to $258.00 in a report on Friday, October 9th. Canadian Imperial Bank of Commerce dropped their target price on shares of Republic Services from $249.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, October 8th. JPMorgan Chase & Co. raised shares of Republic Services from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $265.00 to $295.00 in a research report on Wednesday. Scotiabank reaffirmed a “sector perform” rating and set a $236.00 price target on shares of Republic Services in a research note on Thursday, October 15th. Finally, Sanford C. Bernstein boosted their price target on Republic Services from $220.00 to $227.00 and gave the company a “market perform” rating in a report on Monday, August 10th. Fourteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $252.10.

Insider Activity

In related news, major shareholder Cascade Investment, L.L.C. purchased 409,500 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were acquired at an average cost of $221.49 per share, for a total transaction of $90,700,155.00. Following the acquisition, the insider owned 116,166,330 shares of the company’s stock, valued at $25,729,680,431.70. The trade was a 0.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders acquired 5,240,588 shares of company stock valued at $1,161,649,826. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Republic Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in RSG. Bell Investment Advisors Inc bought a new position in Republic Services in the second quarter worth about $25,000. Laurel Wealth Advisors LLC bought a new position in shares of Republic Services during the 3rd quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Republic Services during the 2nd quarter worth approximately $27,000. Compass Financial Management LLC acquired a new stake in Republic Services in the second quarter valued at approximately $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Republic Services by 47.3% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 162 shares of the business services provider’s stock worth $35,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

The firm has a fifty day moving average price of $227.08 and a 200 day moving average price of $218.34. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $77.37 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 4.14 and a beta of 0.32.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, October 29th. The business services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.01. Republic Services had a return on equity of 18.56% and a net margin of 12.93%. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.42 billion. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 EPS. Research analysts forecast that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, January 4th will be issued a dividend of $0.67 per share. The ex-dividend date is Monday, January 4th. This represents a $2.68 annualized dividend and a dividend yield of 1.1%. Republic Services’s dividend payout ratio is 37.07%.

About Republic Services

Republic Services, Inc. provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials. The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.