Republic Services (NYSE:RSG) Given New $220.00 Price Target at Morgan Stanley

Republic Services (NYSE:RSG) had its target price raised by Morgan Stanley from $217.00 to $220.00 in a research report report published on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

A number of other analysts have also recently weighed in on RSG. Scotiabank began coverage on shares of Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective on the stock. Royal Bank of Canada boosted their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. CIBC raised their price objective on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Truist Financial boosted their target price on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.06.

Republic Services Trading Down 0.6 %

Shares of NYSE:RSG opened at $208.97 on Thursday. Republic Services has a 52 week low of $160.65 and a 52 week high of $220.58. The company’s 50 day moving average is $208.53 and its two-hundred day moving average is $201.84. The company has a market cap of $65.44 billion, a PE ratio of 33.44, a P/E/G ratio of 3.21 and a beta of 0.71. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The company had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. Republic Services’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.54 earnings per share. Equities analysts predict that Republic Services will post 6.25 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s payout ratio is 37.12%.

Insider Buying and Selling

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now owns 879 shares in the company, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Republic Services

Institutional investors have recently added to or reduced their stakes in the stock. FSA Wealth Management LLC purchased a new stake in Republic Services during the third quarter worth $25,000. Wolff Wiese Magana LLC boosted its position in shares of Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after buying an additional 109 shares in the last quarter. Webster Bank N. A. acquired a new stake in Republic Services in the 3rd quarter valued at about $31,000. Truvestments Capital LLC purchased a new position in Republic Services during the 3rd quarter valued at about $34,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Republic Services during the second quarter worth about $36,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Company Profile

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.