Republic Services, Inc. (NYSE: RSG – Get a rating) declared a quarterly dividend on Monday, August 1 the wall street journal reports. Investors of record on Monday, October 3 will receive a dividend of 0.495 per share from the business services provider on Friday, October 14. This represents an annualized dividend of $1.98 and a yield of 1.44%. The ex-dividend date is Friday, September 30. This is a boost from Republic Services’ previous quarterly dividend of $0.46.
Republic Services has a payout ratio of 38.0%, which means its dividend is sufficiently covered by earnings. Equity research analysts expect Republic Services to earn $5.24 per share next year, meaning the company should continue to be able to cover its $1.98 annual dividend with an expected future payout ratio of 37.8%.
Republican services trade down 0.7%
RSG fell $0.94 on Monday, hitting $137.72. 56,359 shares of the company were traded, against an average volume of 1,290,750. The company has a fifty-day simple moving average of $130.15 and a two-hundred-day simple moving average of $129.18. The company has a debt ratio of 1.07, a quick ratio of 0.75 and a current ratio of 0.75. Republic Services has a 12 month minimum of $113.57 and a 12 month maximum of $145.98. The stock has a market capitalization of $43.50 billion, a PE ratio of 32.86, a growth price-earnings ratio of 2.82 and a beta of 0.72.
Republic Services (NYSE: RSG – Get a rating) last released its quarterly earnings data on Thursday, May 5. The business services provider reported earnings per share of $1.14 for the quarter, beating analyst consensus estimates of $1.05 by $0.09. The company posted revenue of $2.97 billion for the quarter, versus analyst estimates of $2.89 billion. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. The company’s quarterly revenue increased by 14.4% compared to the same quarter last year. During the same period last year, the company achieved EPS of $0.93. Sell-side analysts expect Republic Services to post earnings per share of 4.67 for the current year.
Wall Street analysts predict growth
A number of brokerages have published reports on RSG. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and set a price target of $147.00 for the company in a Thursday, June 16 research note. Morgan Stanley raised its price target on Republic Services from $142.00 to $147.00 and gave the stock an “overweight” rating in a Wednesday, July 20 research note. Raymond James raised his price target on Republic Services from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 research note. Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and raised its price target for the stock from $140.00 to $150.00 in a Friday, May 13 research note . Finally, Oppenheimer set a price target of $139.00 on Republic Services in a Tuesday, July 19 research note. Two equity research analysts gave the stock a hold rating, five gave the company a buy rating and two gave the company a strong buy rating. According to MarketBeat, Republic Services currently has a consensus rating of “Buy” and an average target price of $141.43.
Insider buying and selling
Separately, COO Timothy E. Stuart sold 15,000 shares of the company in a trade dated Tuesday, June 7. The stock was sold at an average price of $135.19, for a total value of $2,027,850.00. Following the sale, the COO now directly owns 19,675 shares of the company, valued at $2,659,863.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link. In other Republic Services news, COO Timothy E. Stuart sold 15,000 shares of the company in a transaction that took place on Tuesday, June 7. The stock was sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the sale, the COO now directly owns 19,675 shares of the company, valued at $2,659,863.25. The sale was disclosed in an SEC filing, available at the SEC website. Also, CAD Brian A. Goebel sold 347 shares of the company in a transaction that took place on Thursday, June 2. The shares were sold at an average price of $135.01, for a total value of $46,848.47. As a result of the sale, the chief accountant now owns 6,186 shares of the company, valued at $835,171.86. Disclosure of this sale can be found here. 0.06% of the shares are held by insiders of the company.
Institutional investors weigh in on Republic Services
Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Worth Asset Management LLC purchased a new position in Republic Services stock during the first quarter worth approximately $69,000. Lumature Wealth Partners LLC increased its stake in shares of Republic Services by 66.8% during the first quarter. Lumature Wealth Partners LLC now owns 1,406 shares of the business services provider valued at $186,000 after buying an additional 563 shares in the last quarter. DA Davidson & CO. bought a new position in Republic Services stock during the first quarter worth approximately $203,000. Ethic Inc. bought a new position in Republic Services in the first quarter worth approximately $208,000. Finally, Atria Wealth Solutions Inc. bought a new position in Republic Services in the first quarter worth approximately $228,000. 92.80% of the shares are currently held by hedge funds and other institutional investors.
Republic Services Company Profile
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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