Brokerages Set Republic Services, Inc. (NYSE:RSG) PT at $211.00

Republic Services, Inc. (NYSE:RSG) has earned an average rating of “Hold” from the eighteen ratings firms that are covering the stock, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $211.00.

RSG has been the topic of several research reports. CIBC lifted their target price on Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Republic Services in a report on Thursday, May 23rd. They set a “hold” rating and a $203.00 price objective on the stock. Stifel Nicolaus raised their target price on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, July 25th. TD Cowen boosted their price target on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Finally, Robert W. Baird increased their price objective on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th.

Republic Services Stock Performance

NYSE RSG opened at $207.71 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services has a twelve month low of $140.23 and a twelve month high of $208.69. The business has a 50-day moving average price of $200.27 and a 200-day moving average price of $192.09. The firm has a market cap of $65.24 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 3.34 and a beta of 0.70.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.08. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. As a group, equities research analysts predict that Republic Services will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.12%. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is presently 37.54%.

Insiders Place Their Bets

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.09% of the company’s stock.

Institutional Trading of Republic Services

A number of hedge funds have recently added to or reduced their stakes in RSG. Strategic Investment Solutions Inc. IL purchased a new stake in Republic Services during the second quarter worth $49,000. Maven Securities LTD purchased a new position in Republic Services in the second quarter valued at about $797,000. Clearbridge Investments LLC raised its holdings in Republic Services by 3,827.6% in the second quarter. Clearbridge Investments LLC now owns 106,241 shares of the business services provider’s stock worth $20,647,000 after purchasing an additional 103,536 shares in the last quarter. IMS Capital Management purchased a new stake in shares of Republic Services during the second quarter valued at about $206,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Republic Services in the 2nd quarter valued at about $16,753,000. 57.73% of the stock is owned by hedge funds and other 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.