Republic Services, Inc. (NYSE: RSG – Get a rating) announced a quarterly dividend on Thursday, February 10, RTT News reports. Shareholders of record on Friday April 1 will receive a dividend of 0.46 per share from the business services provider on Thursday April 14. This represents a dividend of $1.84 on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, March 31.
Republic Services has increased its dividend by 7.1% over the past three years and has increased its dividend every year for 19 years. Republic Services has a dividend payout ratio of 36.0%, which means its dividend is sufficiently covered by earnings. Equity research analysts expect Republic Services to earn $5.08 per share next year, meaning the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 36.2%.
Shares of RSG opened at $133.63 on Wednesday. Republic Services has a 12-month low of $98.72 and a 12-month high of $145.98. The company’s fifty-day simple moving average is $125.57 and its 200-day simple moving average is $129.41. The company has a market capitalization of $42.28 billion, a price/earnings ratio of 33.08, a PEG ratio of 2.86 and a beta of 0.80. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt ratio of 1.06.
Republic Services (NYSE: RSG – Get a rating) last reported results on Thursday, February 10. The business services provider reported EPS of $1.02 for the quarter, beating the Zacks consensus estimate of $1.01 by $0.01. The company posted revenue of $2.95 billion for the quarter, versus a consensus estimate of $2.87 billion. Republic Services achieved a net margin of 11.42% and a return on equity of 15.04%. The company’s revenue increased 14.8% year over year. During the same period last year, the company posted EPS of $1.00. On average, analysts predict Republic Services will post earnings per share of 4.62 for the current fiscal year.
Several research analysts have published reports on RSG stocks. JPMorgan Chase & Co. began covering Republic Services stocks in a research report on Tuesday, March 1. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft lowered its price target on Republic Services shares from $142.00 to $139.00 and set a “hold” rating on the stock in a Monday, February 14 report. Raymond James raised his price target on Republic Services shares from $137.00 to $140.00 and gave the company an “outperform” rating in a Monday, Jan. 10, report. StockNews.com moved shares of Republic Services from a “buy” rating to a “strong buy” rating in a report on Sunday, March 6. Finally, Morgan Stanley raised its price target on Republic Services shares from $139.00 to $149.00 and gave the company an “overweight” rating in a Tuesday, March 8 research note. Four investment analysts gave the stock a hold rating, four gave the company a buy rating and two gave the company’s stock a strong buy rating. According to MarketBeat.com, the stock currently has an average buy rating and an average target price of $132.38.
In addition, major shareholder Cascade Investment, LLC purchased 88,588 shares in a transaction that took place on Thursday, February 24. The shares were purchased at an average cost of $116.00 per share, for a total transaction of $10,276,208.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Over the past 90 days, insiders have purchased 710,420 shares of the company worth $83,099,992. 0.20% of the shares are held by insiders.
A number of institutional investors and hedge funds have recently increased or reduced their stakes in the company. Parametric Portfolio Associates LLC increased its stake in Republic Services by 4.9% during the fourth quarter. Parametric Portfolio Associates LLC now owns 771,701 shares of the business services provider worth $107,614,000 after purchasing an additional 35,867 shares during the period. Allianz Asset Management GmbH increased its position in Republic Services shares by 197.2% during the fourth quarter. Allianz Asset Management GmbH now owns 547,248 shares of the business services provider worth $76,313,000 after purchasing an additional 363,101 shares last quarter. California State Teachers Retirement System increased its position in Republic Services shares by 2.7% during the fourth quarter. California State Teachers Retirement System now owns 374,299 shares of the business services provider worth $52,196,000 after buying 9,719 additional shares in the last quarter. The Tennessee State Treasury Department increased its position in Republic Services stock by 107.6% during the fourth quarter. The Tennessee State Treasury Department now owns 133,504 shares of the business services provider worth $18,617,000 after purchasing an additional 69,196 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its stake in Republic Services by 15.6% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 23,745 shares of the business services provider valued at $3,311,000 after acquiring 3,213 additional shares in the last quarter. Institutional investors hold 58.80% of the company’s shares.
About Republic Services (Get a rating)
Republic Services, Inc. engages in the provision of services to the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offer non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The Company operates through the following segments: Group 1, Group 2 and Corporate and Other Entities.
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