Analysts Set Republic Services, Inc. (NYSE:RSG) Target Price at $243.26

Shares of Republic Services, Inc. (NYSE:RSG) have earned an average recommendation of “Moderate Buy” from the twenty-two research firms that are covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $243.8947.

A number of analysts recently commented on RSG shares. UBS Group lowered their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Wells Fargo & Company raised their price target on shares of Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, March 18th. Robert W. Baird lowered their price objective on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Citigroup upped their target price on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $249.00 target price on shares of Republic Services in a research note on Friday, May 8th.

Insider Buying and Selling

In related news, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the transaction, the director owned 58 shares in the company, valued at approximately $12,254.24. This represents a 96.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of Republic Services stock in a transaction on Monday, May 18th. The shares were acquired at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the transaction, the insider directly owned 110,803,982 shares in the company, valued at $23,635,597,400.42. The trade was a 0.05% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Republic Services

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Republic Services during the 4th quarter worth about $617,165,000. Capital World Investors lifted its holdings in shares of Republic Services by 27.7% in the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after buying an additional 1,899,183 shares during the period. Morgan Stanley boosted its stake in shares of Republic Services by 38.6% in the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after buying an additional 1,490,719 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Republic Services by 68.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider’s stock worth $497,828,000 after acquiring an additional 913,249 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Republic Services by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock worth $1,074,513,000 after acquiring an additional 807,525 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Trading Down 1.3%

Shares of NYSE:RSG opened at $217.16 on Thursday. The business’s 50-day moving average is $210.01 and its 200 day moving average is $214.56. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. Republic Services has a 1 year low of $196.41 and a 1 year high of $246.25. The firm has a market capitalization of $66.81 billion, a P/E ratio of 31.16, a P/E/G ratio of 3.68 and a beta of 0.40.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, research analysts predict that Republic Services will post 7.29 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 35.87%.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.