In a report on Friday, StockNews.com’s equity research team changed its recommendation for Republic Services (NYSE:RSG) from ‘buy’ to ‘strong buy’, indicating a more bullish outlook on the stock. .
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Other equity analysts have also recently published reports on RSG, and you can find them on the websites of the respective equity analysts who published them. In a report distributed on Tuesday, August 9, Deutsche Bank Aktiengesellschaft said it raised its price target for Republic Services from $147.0 to $158.0. The previous price target was $147.0. In a research note distributed by Morgan Stanley on Sept. 27 and dated Sept. 27, the investment bank assigned an “overweight” rating to Republic Services’ stock price. In addition, the company anticipated a $15.00 increase in the price of Republic Services stock. In a research note published Aug. 8, Oppenheimer downgraded Republic Services from a “market performance” rating to an “outperforming” rating in a research note. A total of seven different analyst ratings have been assigned to the stock. These ratings are: five buy ratings, one strong buy rating, two hold ratings and five buy ratings. Bloomberg says the most common investment advice for the firm is “moderate buy” and the average price target is $149.17.
On Friday, a share of RSG fell $4.18 from its opening price to its closing price, taking the stock price to $129.23. The company’s share volume was significantly above its usual level of 1,241,258 shares, reaching a total of 1,482,289 shares. The company currently has a price-to-earnings ratio of 29.64, a price-to-growth ratio of 2.61, and a beta of 0.70, all of which contribute to its current market value of $40.83 billion. In the past year, Republic Services was made available to customers at prices ranging from $113.57 to $149.17, with an average price of $113.57 per month. The past 50-day moving averages stand at $143.05 for the company, while the past 200-day moving averages stand at $135.33. The leverage ratio is 1.26, while the current and quick ratios are 0.73. The debt ratio is the highest of the three ratios.
Republic Services (NYSE:RSG) released its latest quarterly earnings report on Thursday, August 4, 2018. The business services company reported total earnings per share for the quarter of $1.32, or $0.14 USD more than the estimate reached by most companies. analysts, which was $1.18. The actual revenue the company generated for the quarter was $3.41 billion, which is higher than the $3.30 billion in revenue forecast for the company throughout the quarter. Republic Services’ return on equity was 16.18% and its net margin was 11.31%. Both of these figures are in percentages. Compared to the same period of the previous year, the revenues generated during this quarter increased by 21.4%. Compared to the prior year results for the same period, the company posted earnings of $1.09 per share. According to projections made by market experts, each share of Republic Services will earn $4.78 in revenue in the current fiscal year.
On Monday, August 8, Ark Jon Vander, CEO of the company, completed a transaction in which he sold 14,100 shares of the company. This is another development. The total amount of money obtained from the sale of the shares was $2,009,109, which corresponds to a price of $142.49 for each share. Upon completion of the sale, the Chief Executive Officer will hold a direct stake in the company corresponding to 59,619 shares. The value of these shares is approximately $8,495,111.31 at present. The United States Securities and Exchange Commission has received legal documents on the transaction, which can be viewed here. The current ownership of the Company’s shares by insiders is 0.06%.
Several influential shareholders of the company have been responsible for the recent course corrections that have been implemented:
Mackenzie Financial Corporation increased the percentage of Republic Services shares held to 70.4% during the third quarter. Mackenzie Financial Corp. currently owns 368,637 shares of the business services provider, or $50,149,000. It comes after the previous quarter saw the acquisition of 152,296 shares of the company.
Massmutual Trust Co. FSB ADV increased its stake in Republic Services shares to 94.3% during the third quarter. FSB ADV now owns a total of 206 shares of the business services provider, which are estimated to be worth $28,000 after purchasing 100 additional shares in the previous quarter.
The value of Exchange Traded Concepts LLC’s holdings in Republic Services increased 48,259.5% during the third quarter of the fiscal year. Exchange Traded Concepts LLC now owns 20,311 shares of the business services provider, which are currently valued at $2,763,000 after purchasing an additional 20,269 shares in the prior quarter. This brings the total number of shares held by the company to 20,311.
Everence Capital Management Inc. increased the percentage of Republic Services shares held by 23.2% during the third quarter.
Everence Capital Management Inc. now owns 14,110 shares of the business services provider, which are currently valued at $1,920,000 after purchasing 2,660 additional shares in the last quarter.
Last but not least, during the third quarter, Moody’s National Bank Trust Division increased the percentage of Republic Services shares it held by 6.7%. This should certainly not be considered the least important development. Moody’s National Bank Trust division now owns 2,143 shares of the business services provider, which are currently valued at $292,000 after purchasing 135 additional shares in the previous quarter. The company purchased these shares. As a result, 58.01% of the company’s shares are held by various institutional investors, including hedge funds, collectively at 58.01%.
Republic Services, Inc., along with several of its other subsidiaries, is the parent company of companies that operate in the United States to provide environmental services. The company offers a wide range of environmental services, including the collection, transfer and disposal of solid waste that does not contain hazardous materials. In addition, he is responsible for the collection and processing of recyclable materials. The company’s collection services include recycling and trash cans, compactor rentals, and curbside pickup of materials for delivery to transfer stations, landfills, or recycling processing facilities.