Republic Services, Inc. (NYSE:RSG) CAO Brian A. Goebel sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $67.57, for a total value of $135,140.00. Following the completion of the sale, the chief accounting officer now owns 6,696 shares in the company, valued at approximately $452,448.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Republic Services, Inc. (NYSE RSG) opened at $68.38 on Friday. The company has a market capitalization of $22,814.17, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 3.12 and a beta of 0.60. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.93. Republic Services, Inc. has a fifty-two week low of $56.65 and a fifty-two week high of $69.12.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Republic Services had a return on equity of 10.58% and a net margin of 8.15%. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. Republic Services’s quarterly revenue was up 6.5% on a year-over-year basis. equities research analysts forecast that Republic Services, Inc. will post 2.4 earnings per share for the current year.
Republic Services declared that its Board of Directors has authorized a share repurchase program on Thursday, November 2nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, December 29th. Republic Services’s dividend payout ratio is presently 58.47%.
Several institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Republic Services by 0.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,821 shares of the business services provider’s stock worth $307,000 after purchasing an additional 16 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Republic Services by 1.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,383 shares of the business services provider’s stock worth $342,000 after purchasing an additional 78 shares during the period. Thrivent Financial For Lutherans lifted its stake in shares of Republic Services by 2.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 8,700 shares of the business services provider’s stock worth $554,000 after purchasing an additional 220 shares during the period. Advisory Services Network LLC lifted its stake in shares of Republic Services by 6.3% during the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock worth $241,000 after purchasing an additional 223 shares during the period. Finally, Veritable L.P. lifted its stake in shares of Republic Services by 5.5% during the 2nd quarter. Veritable L.P. now owns 5,243 shares of the business services provider’s stock worth $334,000 after purchasing an additional 273 shares during the period. 59.90% of the stock is currently owned by institutional investors.
A number of brokerages have commented on RSG. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Bank of America lowered their target price on Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Stifel Nicolaus upgraded Republic Services from a “hold” rating to a “buy” rating and increased their target price for the company from $70.00 to $73.00 in a report on Thursday, January 4th. Credit Suisse Group lowered their target price on Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Monday, November 6th. Finally, BMO Capital Markets lowered their target price on Republic Services from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $68.14.
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About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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