Republic Services, Inc. (NYSE:RSG) Given Average Recommendation of “Hold” by Brokerages

Posted by Defense World Staff on Aug 24th, 2023

Shares of Republic Services, Inc. (NYSE:RSG – Get Free Report) have received a consensus rating of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $159.00.

A number of research firms have recently weighed in on RSG. Truist Financial increased their price objective on shares of Republic Services from $146.00 to $155.00 and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. VNET Group reiterated a “maintains” rating on shares of Republic Services in a research note on Thursday, April 27th. 22nd Century Group reiterated a “maintains” rating on shares of Republic Services in a research note on Thursday, April 27th. Raymond James increased their price target on shares of Republic Services from $154.00 to $167.00 and gave the stock an “outperform” rating in a report on Friday, July 21st. Finally, BMO Capital Markets increased their price target on shares of Republic Services from $158.00 to $160.00 and gave the stock a “market perform” rating in a report on Tuesday, August 1st.

Check Out Our Latest Research Report on Republic Services

Insider Transactions at Republic Services

In other news, CMO Amanda Hodges sold 2,712 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $148.66, for a total value of $403,165.92. Following the transaction, the chief marketing officer now directly owns 4,969 shares of the company’s stock, valued at $738,691.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CMO Amanda Hodges sold 2,712 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $148.66, for a total transaction of $403,165.92. Following the completion of the sale, the chief marketing officer now directly owns 4,969 shares in the company, valued at $738,691.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian M. Delghiaccio sold 5,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $149.65, for a total transaction of $823,075.00. Following the sale, the chief financial officer now owns 5,071 shares of the company’s stock, valued at $758,875.15. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Republic Services

A number of institutional investors have recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Republic Services by 87,079.9% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 169,300,747 shares of the business services provider’s stock valued at $25,931,795,000 after purchasing an additional 169,106,550 shares during the period. BlackRock Inc. lifted its stake in Republic Services by 0.3% in the second quarter. BlackRock Inc. now owns 20,421,314 shares of the business services provider’s stock worth $3,127,933,000 after acquiring an additional 56,686 shares during the last quarter. Vanguard Group Inc. lifted its stake in Republic Services by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,800,921 shares of the business services provider’s stock worth $2,358,621,000 after acquiring an additional 168,696 shares during the last quarter. State Street Corp lifted its stake in Republic Services by 0.3% in the second quarter. State Street Corp now owns 8,964,102 shares of the business services provider’s stock worth $1,377,389,000 after acquiring an additional 27,920 shares during the last quarter. Finally, Pictet Asset Management SA lifted its stake in Republic Services by 10.1% in the first quarter. Pictet Asset Management SA now owns 8,078,135 shares of the business services provider’s stock worth $1,092,325,000 after acquiring an additional 738,378 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Trading Down 0.1 %

Shares of Republic Services stock opened at $146.29 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17. Republic Services has a 12-month low of $120.58 and a 12-month high of $156.65. The firm has a market capitalization of $46.28 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 2.85 and a beta of 0.66. The firm’s 50 day simple moving average is $149.35 and its two-hundred day simple moving average is $140.94.

Republic Services (NYSE:RSG – Get Free Report) last issued its quarterly earnings results on Monday, July 31st. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.09. Republic Services had a net margin of 10.91% and a return on equity of 16.53%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the prior year, the business posted $1.32 EPS. Republic Services’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts predict that Republic Services will post 5.35 EPS for the current year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be paid a $0.535 dividend. This is an increase from Republic Services’s previous quarterly dividend of $0.50. This represents a $2.14 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, September 29th. Republic Services’s dividend payout ratio (DPR) is currently 39.84%.

Republic Services Company Profile

(Get Free Report

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.