Republic Services, Inc. (NYSE:RSG) had its price target decreased by Bank of America Corporation from $72.00 to $70.00 in a research report sent to investors on Thursday. Bank of America Corporation currently has a buy rating on the business services provider’s stock.
Several other equities research analysts have also commented on RSG. Stifel Nicolaus lowered Republic Services from a buy rating to a hold rating and dropped their price target for the stock from $76.00 to $70.00 in a research note on Wednesday. Oppenheimer Holdings, Inc. restated a hold rating on shares of Republic Services in a research note on Friday, August 25th. BidaskClub lowered Republic Services from a hold rating to a sell rating in a research note on Thursday, August 17th. Zacks Investment Research lowered Republic Services from a buy rating to a hold rating in a research note on Monday, July 31st. Finally, BMO Capital Markets upped their price target on Republic Services from $71.00 to $72.00 and gave the stock an outperform rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Republic Services has an average rating of Hold and an average target price of $71.33.
Shares of Republic Services (RSG) traded down 0.82% during trading on Thursday, reaching $63.18. The company had a trading volume of 1,310,948 shares. The firm has a market capitalization of $21.28 billion, a price-to-earnings ratio of 32.43 and a beta of 0.60. The firm has a 50-day moving average of $65.48 and a 200 day moving average of $64.07. Republic Services has a 52 week low of $49.18 and a 52 week high of $67.18.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 earnings per share. On average, equities research analysts forecast that Republic Services will post $2.39 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a $0.345 dividend. This is an increase from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 29th. This represents a $1.38 annualized dividend and a dividend yield of 2.18%. Republic Services’s dividend payout ratio is presently 70.77%.
In related news, EVP Catharine D. Ellingsen sold 14,250 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $66.02, for a total value of $940,785.00. Following the completion of the transaction, the executive vice president now owns 8,007 shares of the company’s stock, valued at $528,622.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total value of $420,878.50. Following the completion of the transaction, the executive vice president now directly owns 428 shares of the company’s stock, valued at approximately $28,462. The disclosure for this sale can be found here. Insiders sold 43,187 shares of company stock valued at $2,854,922 in the last ninety days. Company insiders own 0.40% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of RSG. BlackRock Inc. boosted its holdings in Republic Services by 2,800.0% in the first quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock valued at $1,197,070,000 after purchasing an additional 18,401,448 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Republic Services by 13,584.4% in the second quarter. Janus Henderson Group PLC now owns 3,744,875 shares of the business services provider’s stock valued at $238,663,000 after purchasing an additional 3,717,509 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Republic Services by 6.1% in the first quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock valued at $1,180,588,000 after purchasing an additional 1,086,931 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Republic Services by 89.0% in the second quarter. Renaissance Technologies LLC now owns 1,653,800 shares of the business services provider’s stock valued at $105,397,000 after purchasing an additional 778,800 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Republic Services in the first quarter valued at about $39,751,000. 60.57% of the stock is owned by hedge funds and other institutional investors.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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