Deutsche Bank Aktiengesellschaft Upgrades Republic Services (NYSE:RSG) to “Buy”

Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services (NYSE:RSG) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $237.00 price objective on the business services provider’s stock, up from their prior price objective of $219.00.

Other analysts have also issued research reports about the stock. Truist Financial lifted their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer lifted their price target 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. Scotiabank started coverage on shares of Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target on the stock. William Blair started coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Finally, Morgan Stanley lifted their price target on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $220.06.

Republic Services Trading Down 0.0 %

Shares of Republic Services stock opened at $210.25 on Tuesday. The stock has a market cap of $65.84 billion, a P/E ratio of 33.61, a P/E/G ratio of 3.31 and a beta of 0.71. The stock’s 50 day simple moving average is $208.20 and its 200-day simple moving average is $201.50. Republic Services has a 1-year low of $160.65 and a 1-year high of $220.58. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 EPS. Analysts predict that Republic Services will post 6.24 EPS for the current fiscal year.

Republic Services Announces Dividend

The business 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. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now owns 879 shares of the company’s stock, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Republic Services

A number of institutional investors and hedge funds have recently modified their holdings of the company. Simmons Bank grew its stake in shares of Republic Services by 2.8% during the third quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock worth $381,000 after purchasing an additional 51 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Republic Services by 1.0% in the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after acquiring an additional 52 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Republic Services by 2.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock valued at $362,000 after acquiring an additional 53 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Republic Services by 16.5% in the third quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock valued at $77,000 after acquiring an additional 54 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in Republic Services by 3.8% in the third quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider’s stock valued at $310,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

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.