Republic Services, Inc. Shares (NYSE: RSG – Get a rating) received a consensus “Buy” recommendation from the ten brokerages currently covering the stock, market beat reports. Four research analysts gave the stock a hold rating, four gave the company a buy rating and two gave the company a strong buy rating. The 12-month average target price among brokers who have reported on the stock in the past year is $134.57.
A number of brokerages have weighed in on RSG. 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. Deutsche Bank Aktiengesellschaft lowered its price target on Republic Services shares from $142.00 to $139.00 and set a “hold” rating for the company in a Monday, Feb. 14 research note. 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, January 10, research note. StockNews.com launched coverage on Republic Services shares in a research note on Thursday, March 31. They established a “Strong Buy” rating for the company. Finally, JPMorgan Chase & Co. launched a hedge on Republic Services shares in a Tuesday, March 1, report. They set a “neutral” rating on the stock.
GSR action traded down $0.44 during Monday’s trading, hitting $132.71. The company had a trading volume of 890,693 shares, compared to an average volume of 976,569. Republic Services has a 52-week low of $103.52 and a 52-week high of $145.98. The company has a market capitalization of $41.91 billion, a P/E ratio of 32.85, a PEG ratio of 2.86 and a beta of 0.81. The company has a 50-day moving average of $127.41 and a 200-day moving average of $130.26. The company has a debt ratio of 1.06, a current ratio of 0.71 and a quick ratio of 0.71.
Services of the Republic (NYSE: RSG – Get a rating) last released its quarterly results on Thursday, February 10. The business services provider reported earnings per share (EPS) of $1.02 for the quarter, beating the Zacks consensus estimate of $1.01 by $0.01. Republic Services achieved a net margin of 11.42% and a return on equity of 15.04%. The company posted revenue of $2.95 billion in the quarter, versus a consensus estimate of $2.87 billion. During the same period of the previous year, the company made a profit of $1.00 per share. Republic Services revenue increased 14.8% year over year. Research analysts expect Republic Services to post earnings per share of 4.62 for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 14. Investors of record on Friday, April 1 received a dividend of $0.46. This represents an annualized dividend of $1.84 and a yield of 1.39%. The ex-dividend date was Thursday, March 31. Republic Services’ dividend payout ratio is currently 45.54%.
In related news, major shareholder Cascade Investment, LLC purchased 362,747 shares of the company in a transaction that took place on Friday, February 18. The shares were purchased at an average price of $117.17 per share, for a total transaction of $42,503,065.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. Insiders bought 710,420 shares of the company worth $83,099,992 in the last 90 days. 0.20% of the shares are currently held by insiders.
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. Corient Capital Partners LLC increased its position in Republic Services shares by 2.0% during the 3rd quarter. Corient Capital Partners LLC now owns 3,776 shares of the business services provider valued at $454,000 after purchasing an additional 74 shares during the period. Benjamin Edwards Inc. increased its position in Republic Services shares by 0.4% during the fourth quarter. Benjamin Edwards Inc. now owns 18,093 shares of the business services provider valued at $2,523,000 after purchasing an additional 79 shares during the period. Profund Advisors LLC raised its position in Republic Services shares by 2.9% during the fourth quarter. Profund Advisors LLC now owns 2,928 shares of the business services provider valued at $408,000 after buying 82 additional shares during the period. HighTower Advisors LLC increased its position in Republic Services shares by 0.3% during the 4th quarter. HighTower Advisors LLC now owns 24,418 shares of the business services provider valued at $3,405,000 after purchasing an additional 82 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in Republic Services shares by 1.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,965 shares of the business services provider valued at $692,000 after buying 87 additional shares during the period. Institutional investors and hedge funds hold 58.80% of the company’s shares.
About Republic Services (Get a rating)
Republic Services, Inc., together with its subsidiaries, provides environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste and other environmental solutions. Its collection services include curbside collection of materials for transportation to transfer stations, landfills or recycling processing centers; supply of recycling and waste containers; and rental of compactors.
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