Republic Services (NYSE:RSG) Hits New 52-Week High – What’s Next?

Republic Services, Inc. (NYSE:RSG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $215.16 and last traded at $214.73, with a volume of 233829 shares traded. The stock had previously closed at $212.24.

Analysts Set New Price Targets

Several research analysts have issued reports on RSG shares. Morgan Stanley raised their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. William Blair started coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Robert W. Baird raised their price objective on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial raised their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Trading Up 1.3 %

The firm has a market capitalization of $67.35 billion, a PE ratio of 34.40, a P/E/G ratio of 3.25 and a beta of 0.70. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The business’s fifty day moving average price is $203.52 and its 200 day moving average price is $197.67.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 earnings per share. As a group, analysts expect that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.08%. Republic Services’s payout ratio is 37.12%.

Insider Activity at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares in the company, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RSG. Wolff Wiese Magana LLC lifted its position in shares of Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after purchasing an additional 109 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Republic Services during the first quarter worth $29,000. Webster Bank N. A. acquired a new position in shares of Republic Services during the third quarter worth $31,000. Truvestments Capital LLC acquired a new position in shares of Republic Services during the third quarter worth $34,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Republic Services in the second quarter valued at $36,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.