Republic Services, Inc. (NYSE:RSG) had its price target decreased by Bank of America Corporation from $72.00 to $70.00 in a research report sent to investors on Thursday, October 5th. Bank of America Corporation currently has a buy rating on the business services provider’s stock.
Several other equities research analysts have also commented on RSG. Oppenheimer Holdings, Inc. restated a hold rating on shares of Republic Services in a research report on Friday, August 25th. Stifel Nicolaus lowered shares of Republic Services from a buy rating to a hold rating and decreased their target price for the stock from $76.00 to $70.00 in a research report on Wednesday, October 4th. Zacks Investment Research downgraded Republic Services from a buy rating to a hold rating in a research note on Monday, July 31st. BidaskClub downgraded Republic Services from a hold rating to a sell rating in a research note on Thursday, August 17th. Finally, BMO Capital Markets lifted their price target on Republic Services from $71.00 to $72.00 and gave the stock an outperform rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $71.33.
Republic Services (NYSE:RSG) opened at 62.99 on Thursday. The company has a market capitalization of $21.21 billion, a P/E ratio of 32.34 and a beta of 0.60. Republic Services has a 52-week low of $49.44 and a 52-week high of $67.18. The firm has a 50-day moving average of $65.36 and a 200 day moving average of $64.13.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. Republic Services’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $0.55 EPS. Equities analysts predict that Republic Services will post $2.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were issued a dividend of $0.345 per share. The ex-dividend date was Friday, September 29th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.19%. This is a boost from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s payout ratio is presently 70.77%.
In other news, insider Donald W. Slager sold 22,608 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the completion of the transaction, the insider now directly owns 246,617 shares in the company, valued at approximately $16,289,052.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total value of $420,878.50. Following the transaction, the executive vice president now owns 428 shares of the company’s stock, valued at $28,462. The disclosure for this sale can be found here. Insiders have sold a total of 43,187 shares of company stock valued at $2,854,922 in the last quarter. Company insiders own 0.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Republic Services by 6.4% during the 2nd quarter. BlackRock Inc. now owns 20,282,248 shares of the business services provider’s stock valued at $1,292,589,000 after acquiring an additional 1,223,613 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Republic Services by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock valued at $1,224,571,000 after acquiring an additional 418,797 shares in the last quarter. State Street Corp raised its position in shares of Republic Services by 4.5% during the 1st quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock valued at $731,866,000 after acquiring an additional 501,491 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Republic Services by 6.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,809,989 shares of the business services provider’s stock valued at $434,002,000 after acquiring an additional 388,147 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Republic Services by 8.3% during the 2nd quarter. Wells Fargo & Company MN now owns 5,087,694 shares of the business services provider’s stock valued at $324,239,000 after acquiring an additional 391,482 shares in the last quarter. 60.50% of the stock is currently owned by institutional investors and hedge funds.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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