Republic Services (NYSE:RSG) Hits New 52-Week High at $194.10

Republic Services, Inc. (NYSE:RSG)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $194.10 and last traded at $194.10, with a volume of 168313 shares traded. The stock had previously closed at $193.41.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RSG shares. Royal Bank of Canada assumed coverage on Republic Services in a research note on Monday, April 8th. They set a “sector perform” rating and a $198.00 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Citigroup lifted their target price 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 increased their price target on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Scotiabank began coverage on shares of Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $211.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $199.77.

Republic Services Trading Down 0.3 %

The company has a 50 day moving average of $187.62 and a 200-day moving average of $171.16. The stock has a market cap of $60.75 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.13. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 earnings per share. On average, research analysts anticipate that Republic Services, Inc. will post 6.01 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be paid a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a dividend yield of 1.11%. Republic Services’s dividend payout ratio (DPR) is 39.12%.

Insider Activity

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the sale, the chief executive officer now owns 85,113 shares in the company, valued at approximately $15,669,303.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RSG. Capital World Investors increased its holdings in Republic Services by 416.9% in the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock valued at $1,082,209,000 after buying an additional 5,292,862 shares during the last quarter. Norges Bank purchased a new position in shares of Republic Services in the 4th quarter valued at about $358,837,000. Magellan Asset Management Ltd lifted its stake in Republic Services by 1,497,159.0% during the third quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after purchasing an additional 913,267 shares during the last quarter. FMR LLC boosted its holdings in Republic Services by 34.4% in the third quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock valued at $313,865,000 after purchasing an additional 563,761 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in Republic Services in the fourth quarter valued at approximately $77,417,000. 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.