Republic Services (NYSE:RSG) Hits New 12-Month High – What’s Next?

Republic Services, Inc. (NYSE:RSG) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $239.77 and last traded at $239.20, with a volume of 27214 shares changing hands. The stock had previously closed at $237.02.

Analyst Upgrades and Downgrades

RSG has been the subject of several recent research reports. Jefferies Financial Group boosted their price objective on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Truist Financial reissued a “buy” rating and set a $250.00 price target (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. William Blair reissued an “outperform” rating on shares of Republic Services in a research note on Friday, February 14th. Finally, Stifel Nicolaus lifted their price objective on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.88.

Republic Services Price Performance

The company has a fifty day moving average price of $217.11 and a two-hundred day moving average price of $210.28. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The firm has a market cap of $73.59 billion, a P/E ratio of 36.31, a PEG ratio of 3.64 and a beta of 0.74.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the company earned $1.41 earnings per share. Equities analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is 35.75%.

Insider Transactions at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now owns 879 shares in the company, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Republic Services

Several hedge funds have recently modified their holdings of RSG. FSA Wealth Management LLC bought a new position in Republic Services in the third quarter valued at approximately $25,000. Arcadia Investment Management Corp MI grew its stake in shares of Republic Services by 200.0% in the fourth 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. R Squared Ltd acquired a new position in Republic Services during the fourth quarter worth $32,000. Truvestments Capital LLC bought a new stake in Republic Services during the third quarter worth $34,000. Finally, New Age Alpha Advisors LLC lifted its stake in Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 73 shares during the last quarter. 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.