Truist Financial Reaffirms Buy Rating for Republic Services (NYSE:RSG)

Truist Financial reiterated their buy rating on shares of Republic Services (NYSE:RSG) in a report issued on Friday,Benzinga reports. Truist Financial currently has a $250.00 price target on the business services provider’s stock, up from their prior price target of $244.00.

A number of other research firms have also recently commented on RSG. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Morgan Stanley raised their price target on Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday. Jefferies Financial Group raised their price target on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and an average target price of $225.38.

Republic Services Stock Up 2.9 %

Republic Services stock opened at $230.98 on Friday. The stock’s fifty day moving average is $210.94 and its two-hundred day moving average is $207.43. 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 has a 1-year low of $177.03 and a 1-year high of $232.52. The stock has a market cap of $72.33 billion, a PE ratio of 36.96, a P/E/G ratio of 3.24 and a beta of 0.74.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. On average, sell-side analysts expect that Republic Services will post 6.25 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is presently 37.12%.

Insider Transactions at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,326,906.36. The trade was a 44.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now directly owns 879 shares in the company, valued at $189,222.33. This trade represents 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.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. raised its position in shares of Republic Services by 2.2% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock worth $445,000 after purchasing an additional 48 shares during the last quarter. Simmons Bank raised its position in shares of Republic Services by 2.8% during the 3rd quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock worth $381,000 after purchasing an additional 51 shares during the last quarter. Access Financial Services Inc. raised its position in shares of Republic Services by 0.8% during the 4th quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock worth $1,243,000 after purchasing an additional 51 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of Republic Services by 1.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock worth $1,024,000 after purchasing an additional 52 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Republic Services by 16.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock worth $77,000 after purchasing an additional 54 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

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.