Republic Services (NYSE:RSG) Earns Sector Perform Rating from Analysts at Scotiabank

Scotiabank initiated coverage on shares of Republic Services (NYSE:RSG) in a report issued on Friday, Marketbeat reports. The firm issued a sector perform rating and a $224.00 price objective on the business services provider’s stock.

A number of other research firms also recently issued reports on RSG. Raymond James cut their target price on shares of Republic Services from $219.00 to $214.00 and set an outperform rating for the company in a research report on Thursday, July 25th. CIBC increased their target price on shares of Republic Services from $196.00 to $208.00 and gave the stock a neutral rating in a research report on Thursday, July 25th. Truist Financial upgraded shares of Republic Services from a hold rating to a buy rating and increased their target price for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. BMO Capital Markets increased their target price on shares of Republic Services from $209.00 to $211.00 and gave the stock a market perform rating in a research report on Thursday, July 25th. Finally, William Blair started coverage on shares of Republic Services in a research report on Thursday, October 3rd. They issued an outperform rating for the company. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Republic Services has an average rating of Moderate Buy and an average price target of $211.65.

Republic Services Stock Down 1.0 %

Shares of NYSE:RSG opened at $198.61 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $62.55 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 3.21 and a beta of 0.69. Republic Services has a 52 week low of $142.65 and a 52 week high of $208.69. The firm has a 50 day simple moving average of $202.55 and a 200 day simple moving average of $194.96.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.53 by $0.08. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. As a group, research analysts expect that Republic Services will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be paid a $0.58 dividend. The ex-dividend date is Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a yield of 1.17%. Republic Services’s dividend payout ratio (DPR) is presently 40.70%.

Insider Activity at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 17,486 shares in the company, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by company insiders.

Institutional Trading of Republic Services

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Republic Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after purchasing an additional 101,518 shares during the last quarter. Capital World Investors grew its position in Republic Services by 20.5% in the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after purchasing an additional 1,346,588 shares during the last quarter. Legal & General Group Plc grew its position in Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock worth $351,480,000 after purchasing an additional 92,013 shares during the last quarter. TD Asset Management Inc grew its position in Republic Services by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after purchasing an additional 35,650 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Republic Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock worth $286,868,000 after purchasing an additional 3,809 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

About Republic Services

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.