Republic Services (NYSE:RSG) Hits New 52-Week High After Dividend Announcement

Republic Services, Inc. (NYSE:RSG)’s stock price reached a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $223.43 and last traded at $221.18, with a volume of 36535 shares traded. The stock had previously closed at $221.07.

The newly announced dividend which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 1.05%. Republic Services’s dividend payout ratio is presently 37.12%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Oppenheimer raised their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. CIBC boosted their price objective on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group raised their target price on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Truist Financial increased their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $224.38.

Republic Services Stock Up 0.4 %

The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The stock’s 50-day moving average price is $210.01 and its two-hundred day moving average price is $206.36. The stock has a market capitalization of $69.50 billion, a P/E ratio of 35.51, a P/E/G ratio of 3.24 and a beta of 0.74.

Insiders Place Their Bets

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Republic Services

Several institutional investors and hedge funds have recently bought and sold shares of RSG. FSA Wealth Management LLC bought a new stake in Republic Services during the 3rd quarter valued at approximately $25,000. Arcadia Investment Management Corp MI boosted its holdings in shares of Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after buying an additional 88 shares in the last quarter. Wolff Wiese Magana LLC increased its stake 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 acquiring an additional 109 shares in the last quarter. Webster Bank N. A. purchased a new stake in Republic Services in the third quarter worth about $31,000. Finally, R Squared Ltd purchased a new position in shares of Republic Services during the fourth quarter valued at approximately $32,000. Hedge funds and other 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.