Republic Services (NYSE:RSG) Upgraded by Truist Financial to “Buy”

Truist Financial upgraded shares of Republic Services (NYSE:RSG) from a hold rating to a buy rating in a report published on Thursday, Marketbeat reports. The firm currently has $220.00 price target on the business services provider’s stock, up from their prior price target of $192.00.

RSG has been the topic of a number of other research reports. Jefferies Financial Group lifted their price target on shares of Republic Services from $213.00 to $225.00 and gave the stock a buy rating in a report on Monday, March 18th. Deutsche Bank Aktiengesellschaft initiated coverage on Republic Services in a research report on Thursday, May 23rd. They issued a hold rating and a $203.00 price target on the stock. UBS Group raised their price objective on Republic Services from $195.00 to $200.00 and gave the stock a neutral rating in a research report on Wednesday, May 1st. Royal Bank of Canada started coverage on Republic Services in a report on Monday, April 8th. They issued a sector perform rating and a $198.00 target price on the stock. Finally, Morgan Stanley lowered shares of Republic Services from an overweight rating to an equal weight rating and set a $199.00 price target for the company. in a report on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $203.14.

Republic Services Price Performance

Shares of RSG opened at $198.69 on Thursday. The business has a 50-day simple moving average of $189.47 and a two-hundred day simple moving average of $183.09. Republic Services has a 12-month low of $140.23 and a 12-month high of $199.37. The stock has a market cap of $62.57 billion, a PE ratio of 34.86, a PEG ratio of 3.31 and a beta of 0.69. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that Republic Services will post 6.05 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.08%. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

Insider Activity at Republic Services

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the transaction, the chief marketing officer now owns 6,831 shares in the company, valued at $1,270,702.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the transaction, the chief marketing officer now owns 6,831 shares in the company, valued at $1,270,702.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Katharine Weymouth acquired 540 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was acquired at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the purchase, the director now directly owns 540 shares of the company’s stock, valued at approximately $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. YHB Investment Advisors Inc. bought a new position in Republic Services during the 1st quarter valued at $29,000. EntryPoint Capital LLC purchased a new position in Republic Services during the first quarter worth about $29,000. Bogart Wealth LLC bought a new stake in Republic Services in the 4th quarter worth about $30,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Republic Services in the 4th quarter valued at about $34,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Republic Services by 3,014.3% during the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after buying an additional 211 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.