Republic Services, Inc. (NYSE:RSG) Director Jennifer M. Kirk purchased 1,500 shares of the firm’s stock in a transaction on Wednesday, October 31st. The stock was bought at an average cost of $72.35 per share, with a total value of $108,525.00. Following the completion of the acquisition, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $108,525. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of NYSE:RSG opened at $71.63 on Friday. Republic Services, Inc. has a 12-month low of $60.26 and a 12-month high of $75.82. The company has a market capitalization of $23.37 billion, a price-to-earnings ratio of 29.48, a P/E/G ratio of 2.19 and a beta of 0.57. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.56 and a quick ratio of 0.69.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, October 25th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.01. Republic Services had a return on equity of 12.11% and a net margin of 13.90%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. On average, sell-side analysts anticipate that Republic Services, Inc. will post 3.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Monday, December 31st. Republic Services’s payout ratio is 61.73%.
A number of research analysts have issued reports on RSG shares. Zacks Investment Research raised Republic Services from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. ValuEngine raised Republic Services from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. BMO Capital Markets boosted their price target on Republic Services from $75.00 to $79.00 and gave the company a “positive” rating in a report on Thursday, August 16th. Bank of America boosted their price target on Republic Services from $70.00 to $79.00 and gave the company a “buy” rating in a report on Friday, August 17th. Finally, Stifel Nicolaus boosted their price target on Republic Services from $73.00 to $78.00 and gave the company a “buy” rating in a report on Monday, September 10th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $73.71.
Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of Republic Services by 11.7% during the 2nd quarter. Bank of America Corp DE now owns 8,681,132 shares of the business services provider’s stock worth $593,441,000 after buying an additional 909,717 shares during the period. American Century Companies Inc. raised its stake in shares of Republic Services by 16.4% during the 3rd quarter. American Century Companies Inc. now owns 7,468,603 shares of the business services provider’s stock worth $542,669,000 after buying an additional 1,053,773 shares during the period. Wells Fargo & Company MN raised its stake in shares of Republic Services by 0.7% during the 3rd quarter. Wells Fargo & Company MN now owns 4,436,601 shares of the business services provider’s stock worth $322,364,000 after buying an additional 29,076 shares during the period. Victory Capital Management Inc. raised its stake in shares of Republic Services by 0.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,166,946 shares of the business services provider’s stock worth $148,132,000 after buying an additional 14,244 shares during the period. Finally, Morgan Stanley raised its stake in shares of Republic Services by 29.7% during the 2nd quarter. Morgan Stanley now owns 1,600,693 shares of the business services provider’s stock worth $109,424,000 after buying an additional 366,972 shares during the period. 60.87% of the stock is owned by institutional investors and hedge funds.
About Republic Services
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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