Republic Services (NYSE:RSG) Sets New 1-Year High – Still a Buy?

Republic Services, Inc. (NYSE:RSG) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $241.00 and last traded at $240.75, with a volume of 191075 shares changing hands. The stock had previously closed at $237.75.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group lifted their target price on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Argus set a $260.00 target price on shares of Republic Services in a research note on Tuesday, February 18th. Truist Financial restated a “buy” rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Jefferies Financial Group lifted their target price on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Stifel Nicolaus upped their price objective on shares of Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. 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. According to MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and an average price target of $236.88.

Republic Services Stock Performance

The firm has a market capitalization of $74.44 billion, a P/E ratio of 36.73, a P/E/G ratio of 3.64 and a beta of 0.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock has a fifty day moving average of $227.72 and a 200-day moving average of $213.75.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the business posted $1.41 earnings per share. On average, research analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.97%. Republic Services’s dividend payout ratio is currently 35.75%.

Insider Activity at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Republic Services

Large investors have recently added to or reduced their stakes in the business. 111 Capital bought a new position in Republic Services during the 4th quarter valued at $677,000. Wealth Enhancement Advisory Services LLC grew its position in Republic Services by 0.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 287,324 shares of the business services provider’s stock worth $57,804,000 after purchasing an additional 1,610 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in shares of Republic Services by 0.9% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 42,144 shares of the business services provider’s stock worth $8,479,000 after buying an additional 373 shares during the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in shares of Republic Services during the fourth quarter valued at approximately $2,363,000. Finally, Capstone Triton Financial Group LLC increased its position in shares of Republic Services by 1.9% during the 4th quarter. Capstone Triton Financial Group LLC now owns 7,622 shares of the business services provider’s stock valued at $1,533,000 after purchasing an additional 142 shares during the last quarter. 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.