Republic Services, Inc. (NYSE:RSG) Declares Quarterly Dividend of $0.46

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.

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Who controls 80% of the factories’ supply of lithium (the most important metal for the construction of batteries for electric vehicles)? China! And if you’re outraged by that fact, then you’ll love to hear how this Western company is fighting back…

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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Dividend history for Republic Services (NYSE:RSG)

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