The Goldman Sachs Group Boosts Republic Services (NYSE:RSG) Price Target to $230.00

Republic Services (NYSE:RSG) had its price target boosted by The Goldman Sachs Group from $209.00 to $230.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Several other analysts have also recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Republic Services from $173.00 to $195.00 and gave the stock a market perform rating in a research report on Wednesday, February 28th. Citigroup boosted their price target on shares of Republic Services from $190.00 to $215.00 and gave the stock a buy rating in a research note on Thursday, February 29th. Jefferies Financial Group lifted their target price on Republic Services from $213.00 to $225.00 and gave the company a buy rating in a report on Monday, March 18th. Morgan Stanley downgraded Republic Services from an overweight rating to an equal weight rating and set a $199.00 price target on the stock. in a report on Friday, March 15th. Finally, Truist Financial boosted their price objective on Republic Services from $175.00 to $192.00 and gave the stock a hold rating in a research report on Wednesday, February 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Republic Services has a consensus rating of Moderate Buy and a consensus target price of $199.77.

Republic Services Stock Performance

Shares of RSG stock opened at $189.76 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $59.77 billion, a P/E ratio of 34.69, a P/E/G ratio of 3.30 and a beta of 0.68. The firm’s 50 day moving average price is $185.90 and its 200-day moving average price is $168.82. Republic Services has a one year low of $135.33 and a one year high of $192.57.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.28 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $1.13 earnings per share. As a group, equities research analysts predict that Republic Services will post 6.01 EPS for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, April 1st. Republic Services’s payout ratio is currently 39.12%.

Insider Buying and Selling

In other news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the sale, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Republic Services

A number of institutional investors and hedge funds have recently made changes to their positions in RSG. Bogart Wealth LLC acquired a new stake in Republic Services during the 4th quarter worth approximately $30,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Republic Services by 56.3% during the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after purchasing an additional 71 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in Republic Services in the 4th quarter valued at $34,000. Jones Financial Companies Lllp increased its stake in Republic Services by 3,014.3% in the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after buying an additional 211 shares during the period. Finally, BKM Wealth Management LLC acquired a new stake in shares of Republic Services in the 4th quarter worth $37,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

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.