Republic Services (NYSE:RSG) Coverage Initiated by Analysts at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Republic Services (NYSE:RSG) in a report released on Monday, MarketBeat reports. The brokerage issued a sector perform rating and a $198.00 price objective on the business services provider’s stock.

Several other brokerages also recently commented on RSG. Truist Financial lifted their price target on Republic Services from $175.00 to $192.00 and gave the stock a hold rating in a research report on Wednesday, February 28th. Scotiabank initiated coverage on Republic Services in a research report on Monday. They set a sector perform rating and a $211.00 target price for the company. UBS Group cut shares of Republic Services from a buy rating to a neutral rating and increased their target price for the stock from $175.00 to $195.00 in a research report on Thursday, February 29th. Citigroup boosted their price target on shares of Republic Services from $190.00 to $215.00 and gave the company a buy rating in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group raised their price objective on shares of Republic Services from $182.00 to $209.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $198.15.

Republic Services Trading Up 0.1 %

Shares of RSG stock opened at $188.52 on Monday. The business’s 50 day moving average is $183.16 and its two-hundred day moving average is $166.37. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Republic Services has a 12 month low of $133.81 and a 12 month high of $192.57. The company has a market cap of $59.31 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 3.30 and a beta of 0.68.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.13. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 EPS. Equities analysts predict that Republic Services will post 6 EPS for the current year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd will be given a $0.535 dividend. The ex-dividend date of this dividend is Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a yield of 1.14%. Republic Services’s payout ratio is 39.12%.

Insider Transactions at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the transaction, the chief executive officer now owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors lifted its position in Republic Services by 416.9% in the 4th quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock valued at $1,082,209,000 after acquiring an additional 5,292,862 shares in the last quarter. Norges Bank acquired a new position in shares of Republic Services during the fourth quarter worth about $358,837,000. JPMorgan Chase & Co. grew its holdings in shares of Republic Services by 40.8% during the first quarter. JPMorgan Chase & Co. now owns 6,180,535 shares of the business services provider’s stock worth $835,731,000 after buying an additional 1,791,149 shares in the last quarter. Magellan Asset Management Ltd raised its position in Republic Services by 1,497,159.0% in the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock valued at $130,158,000 after buying an additional 913,267 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Republic Services by 59.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,317,702 shares of the business services provider’s stock valued at $355,002,000 after acquiring an additional 862,917 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

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.