Republic Services, Inc. (NYSE: RSG – Get a rating) announced a quarterly dividend on Thursday, October 27, Zacks reports. Shareholders of record on Tuesday January 3 will receive a dividend of 0.495 per share from the business services provider on Friday January 13. This represents an annualized dividend of $1.98 and a dividend yield of 1.49%. The posting date is Friday, December 30.
Republic Services has increased its dividend by an average of 7.1% per year for the past three years and has increased its dividend every year for 18 years. Republic Services has a dividend payout ratio of 37.1%, indicating that its dividend is sufficiently covered by earnings. Research analysts expect Republic Services to earn $5.34 per share next year, meaning the company should continue to be able to cover its annual dividend of $1.98 with a ratio of expected future payout of 37.1%.
Performance of Republic Services shares
Shares of Actions of the services of the Republic opened at $133.18 on Friday. The company has a debt ratio of 1.26, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $42.08 billion, a P/E ratio of 29.08, a P/E/G ratio of 2.48 and a beta of 0.70. The company has a 50-day simple moving average of $139.69 and a 200-day simple moving average of $135.25. Republic Services has a fifty-two week low of $113.57 and a fifty-two week high of $149.17.
Services of the Republic (NYSE: RSG – Get a rating) last announced its quarterly results on Thursday, August 4. The business services provider reported earnings per share of $1.32 for the quarter, beating analysts’ consensus estimate of $1.18 by $0.14. The company posted revenue of $3.41 billion for the quarter, versus $3.30 billion expected by analysts. Republic Services achieved a net margin of 11.31% and a return on equity of 16.18%. The company’s quarterly revenue increased by 21.4% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $1.09. Sell-side analysts expect Republic Services to post earnings per share of 4.76 for the current fiscal year.
Analyst upgrades and downgrades
RSG has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised its price target on Republic Services shares from $147.00 to $158.00 in a Tuesday, August 9 research report. Jefferies Financial Group reaffirmed a “buy” rating and posted a $165.00 price target on Republic Services shares in a research report on Tuesday. Oppenheimer cut his price target on Republic Services shares to $152.00 in a Thursday, October 20 research report. Morgan Stanley cut its price target on Republic Services shares from $162.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday. To finish, StockNews.com moved shares of Republic Services from a “buy” rating to a “strong buy” rating in a Sunday, October 23 research report. Two investment analysts gave the stock a hold rating, six gave the company a buy rating and one gave the company a high buy rating. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.29.
Insider Buying and Selling at Republic Services
In other news, CEO Ark Jon Vander sold 14,100 shares of the company in a transaction dated Monday, August 8. The shares were sold at an average price of $142.49, for a total transaction of $2,009,109.00. As a result of the transaction, the CEO now directly owns 59,619 shares of the company, valued at approximately $8,495,111.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. Insiders of the company hold 0.06% of the shares of the company.
Institutional entries and exits
Several institutional investors have recently changed their holdings in RSG. Worth Asset Management LLC acquired a new position in shares of Republic Services during Q1 worth approximately $69,000. Lumature Wealth Partners LLC increased its stake in Republic Services by 66.8% in the 1st 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. acquired a new position in Republic Services in Q1 worth approximately $203,000. Ethic Inc. acquired a new position in Republic Services in Q1 worth approximately $208,000. Finally, Atria Wealth Solutions Inc. acquired a new position in Republic Services in Q1 worth approximately $228,000. 58.01% of the shares are currently held by institutional investors and hedge funds.
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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