Republic Services (NYSE:RSG) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Republic Services (NYSE:RSG) from a market perform rating to an outperform rating in a research note released on Friday, MarketBeat reports. BMO Capital Markets currently has $238.00 price target on the business services provider’s stock, up from their prior price target of $211.00.

RSG has been the topic of several other research reports. Oppenheimer raised their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial increased their price objective on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price target on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Scotiabank assumed coverage on Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective for the company. Finally, William Blair began coverage on shares of Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.88.

Republic Services Stock Performance

NYSE RSG opened at $216.68 on Friday. The company has a 50-day simple moving average of $207.56 and a 200 day simple moving average of $201.08. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. Republic Services has a 52-week low of $160.41 and a 52-week high of $220.58. The company has a market capitalization of $67.85 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 3.29 and a beta of 0.71.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the company posted $1.54 EPS. Republic Services’s revenue was up 6.5% compared to the same quarter last year. On average, research analysts predict that Republic Services will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The company 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 dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.07%. Republic Services’s payout ratio is 37.12%.

Insider Activity

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Republic Services

Several hedge funds and other institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Republic Services during the 3rd quarter worth $6,102,000. Lifeworks Advisors LLC increased its position in Republic Services by 1,112.3% during the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock valued at $4,312,000 after buying an additional 19,698 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Republic Services by 15.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock valued at $1,137,000 after purchasing an additional 746 shares during the last quarter. Quantbot Technologies LP purchased a new position in Republic Services in the 3rd quarter worth $6,579,000. Finally, PGGM Investments raised its stake in shares of Republic Services by 264.3% in the second quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock worth $1,718,000 after purchasing an additional 6,415 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

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.