Republic Services (NYSE:RSG) Upgraded by Cibc World Mkts to Strong-Buy Rating

Cibc World Mkts upgraded shares of Republic Services (NYSE:RSG) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the company. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. Morgan Stanley lifted their price target on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Jefferies Financial Group raised their price objective on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Finally, William Blair reissued an “outperform” rating on shares of Republic Services in a research note on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.88.

Republic Services Trading Down 0.1 %

Shares of NYSE RSG opened at $235.66 on Tuesday. Republic Services has a one year low of $180.91 and a one year high of $240.95. The firm has a market capitalization of $73.59 billion, a PE ratio of 36.31, a PEG ratio of 3.64 and a beta of 0.74. 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 business has a 50-day moving average price of $217.74 and a two-hundred day moving average price of $210.45.

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

Republic Services Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 35.75%.

Insider Transactions at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Republic Services

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Republic Services by 37.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock valued at $3,586,000 after purchasing an additional 4,827 shares during the last quarter. TCW Group Inc. increased its holdings in Republic Services by 13.0% in the third quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock valued at $23,013,000 after purchasing an additional 13,138 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Republic Services in the fourth quarter worth about $4,430,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Republic Services in the third quarter worth about $6,102,000. Finally, Lifeworks Advisors LLC increased its holdings in shares of Republic Services by 1,112.3% in the third quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock worth $4,312,000 after acquiring an additional 19,698 shares in 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.