Republic Services (NYSE:RSG) Sets New 52-Week High at $90.60

Republic Services, Inc. (NYSE:RSG) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $90.60 and last traded at $90.27, with a volume of 1030423 shares trading hands. The stock had previously closed at $89.58.

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Republic Services in a research note on Wednesday, August 7th. They set a “neutral” rating and a $94.00 price objective on the stock. Stifel Nicolaus upgraded shares of Republic Services from a “hold” rating to a “buy” rating and increased their price objective for the company from $86.00 to $90.00 in a research note on Monday, April 29th. Bank of America reiterated a “neutral” rating and set a $85.00 price objective (up from $79.00) on shares of Republic Services in a research note on Friday, April 26th. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, Raymond James set a $93.00 price objective on shares of Republic Services and gave the company an “outperform” rating in a research note on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $84.67.

The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average is $87.92. The firm has a market cap of $28.85 billion, a PE ratio of 29.21, a P/E/G ratio of 3.07 and a beta of 0.50.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.62 billion. Republic Services had a net margin of 10.32% and a return on equity of 12.86%. Republic Services’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.73 earnings per share. On average, equities analysts forecast that Republic Services, Inc. will post 3.24 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.79%. This is an increase from Republic Services’s previous quarterly dividend of $0.38. The ex-dividend date is Monday, September 30th. Republic Services’s dividend payout ratio (DPR) is 48.54%.

In other Republic Services news, EVP Catharine D. Ellingsen sold 3,100 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $90.00, for a total value of $279,000.00. Following the completion of the sale, the executive vice president now directly owns 14,307 shares in the company, valued at $1,287,630. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in RSG. Parnassus Investments CA acquired a new stake in Republic Services in the second quarter valued at approximately $93,307,000. BlackRock Inc. lifted its stake in shares of Republic Services by 4.0% during the first quarter. BlackRock Inc. now owns 21,393,144 shares of the business services provider’s stock worth $1,719,581,000 after buying an additional 830,100 shares during the period. APG Asset Management N.V. lifted its stake in shares of Republic Services by 279.3% during the second quarter. APG Asset Management N.V. now owns 812,901 shares of the business services provider’s stock worth $61,846,000 after buying an additional 598,600 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Republic Services by 172.0% during the second quarter. Acadian Asset Management LLC now owns 895,109 shares of the business services provider’s stock worth $77,554,000 after buying an additional 566,033 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Republic Services by 9.3% during the fourth quarter. Geode Capital Management LLC now owns 3,819,787 shares of the business services provider’s stock worth $275,009,000 after buying an additional 324,355 shares during the period. Institutional investors own 58.73% of the company’s stock.

Republic Services Company Profile (NYSE:RSG)

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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.

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