Republic Services (NYSE:RSG) Price Target Raised to $208.00 at CIBC

Republic Services (NYSE:RSG) had its price target boosted by CIBC from $196.00 to $208.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

A number of other brokerages have also recently issued reports on RSG. Royal Bank of Canada initiated coverage on shares of Republic Services in a research note on Monday, April 8th. They issued a sector perform rating and a $198.00 price objective for the company. Oppenheimer decreased their price objective on shares of Republic Services from $211.00 to $210.00 and set an outperform rating on the stock in a report on Thursday. Scotiabank increased their price objective on shares of Republic Services from $211.00 to $213.00 and gave the stock a sector perform rating in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Republic Services in a research note on Thursday, May 23rd. They issued a hold rating and a $203.00 target price on the stock. Finally, BMO Capital Markets raised their target price on shares of Republic Services from $209.00 to $211.00 and gave the company a market perform rating in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $211.69.

Republic Services Price Performance

NYSE RSG opened at $189.34 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. The company has a fifty day simple moving average of $192.20 and a 200 day simple moving average of $185.67. The company has a market cap of $59.63 billion, a P/E ratio of 33.22, a P/E/G ratio of 3.38 and a beta of 0.69. Republic Services has a 1 year low of $140.23 and a 1 year high of $206.54.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.35 by $0.10. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Republic Services had a net margin of 12.11% and a return on equity of 18.00%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 EPS. On average, sell-side analysts predict that Republic Services will post 6.05 EPS for the current year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.23%. Republic Services’s dividend payout ratio (DPR) is 37.54%.

Insider Activity

In other news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction on Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Katharine Weymouth acquired 540 shares of Republic Services stock in a transaction on Tuesday, June 4th. The shares were bought at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the transaction, the director now owns 540 shares of the company’s stock, valued at $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Republic Services

A number of institutional investors have recently modified their holdings of the business. RFG Advisory LLC boosted its position in shares of Republic Services by 0.5% in the second quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock valued at $2,061,000 after acquiring an additional 53 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in Republic Services by 2.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock worth $362,000 after acquiring an additional 53 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in Republic Services by 2.9% during the first quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider’s stock worth $364,000 after acquiring an additional 54 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Republic Services by 4.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock worth $278,000 after acquiring an additional 55 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Republic Services by 1.2% during the second quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider’s stock worth $956,000 after purchasing an additional 57 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.