Republic Services (NYSE:RSG) Raised to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Republic Services (NYSE:RSG) from a sector perform rating to an outperform rating in a research report report published on Monday, MarketBeat.com reports. The firm currently has $237.00 target price on the business services provider’s stock, up from their previous target price of $219.00.

Other research analysts also recently issued research reports about the stock. Scotiabank began coverage on shares of Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target for the company. Morgan Stanley raised their price objective on Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. CIBC increased their price target on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Truist Financial lifted their price objective on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $211.00 to $238.00 in a report on Friday, December 6th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.12.

Republic Services Stock Down 0.1 %

RSG opened at $200.93 on Monday. Republic Services has a 52 week low of $162.27 and a 52 week high of $220.58. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm has a 50-day simple moving average of $208.39 and a two-hundred day simple moving average of $203.68. The company has a market capitalization of $62.92 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 3.30 and a beta of 0.73.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the company posted $1.54 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. Analysts forecast that Republic Services will post 6.25 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.15%. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Buying and Selling

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly 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 can be accessed through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Institutional Trading of Republic Services

A number of institutional investors have recently made changes to their positions in the business. Stifel Financial Corp boosted its holdings in Republic Services by 437.9% in the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after acquiring an additional 1,477,255 shares in the last quarter. Wellington Management Group LLP boosted its stake in Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after purchasing an additional 1,131,850 shares in the last quarter. International Assets Investment Management LLC increased its stake in Republic Services by 83,671.9% during the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after purchasing an additional 538,010 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after buying an additional 509,116 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Republic Services by 544.7% during the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock worth $109,580,000 after buying an additional 460,989 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

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.