Stifel Nicolaus Raises Republic Services (NYSE:RSG) Price Target to $230.00

Republic Services (NYSE:RSG) had its price objective upped by Stifel Nicolaus from $215.00 to $230.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Republic Services in a report on Thursday, May 23rd. They set a hold rating and a $203.00 target price on the stock. Oppenheimer boosted their target price on shares of Republic Services from $204.00 to $211.00 and gave the stock an outperform rating in a research report on Monday, July 15th. StockNews.com lowered shares of Republic Services from a strong-buy rating to a buy rating in a report on Wednesday, July 24th. Royal Bank of Canada assumed coverage on shares of Republic Services in a report on Monday, April 8th. They issued a sector perform rating and a $198.00 price objective on the stock. Finally, Scotiabank lifted their target price on Republic Services from $211.00 to $213.00 and gave the stock a sector perform rating in a research report on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $211.69.

Republic Services Trading Up 0.5 %

NYSE RSG opened at $190.30 on Thursday. The firm has a market capitalization of $59.93 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 3.15 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.59. Republic Services has a one year low of $140.23 and a one year high of $206.54. The company’s 50 day moving average price is $192.24 and its 200 day moving average price is $186.16.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.10. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the business posted $1.24 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Republic Services will post 6.17 EPS for the current year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a $0.58 dividend. 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 1.22%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

Insider Activity at Republic Services

In related news, Director Katharine Weymouth bought 540 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was bought at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the purchase, the director now directly owns 540 shares in the company, valued at approximately $100,040.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction dated 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 owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Katharine Weymouth bought 540 shares of Republic Services stock in a transaction on Tuesday, June 4th. The shares were purchased at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the purchase, the director now directly owns 540 shares in the company, valued at $100,040.40. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Republic Services

A number of hedge funds have recently made changes to their positions in RSG. Vanguard Group Inc. raised its stake in Republic Services by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock valued at $3,494,714,000 after acquiring an additional 101,518 shares in the last quarter. Capital World Investors raised its stake in shares of Republic Services by 20.5% during the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after purchasing an additional 1,346,588 shares in the last quarter. Norges Bank acquired a new stake in Republic Services in the fourth quarter worth about $358,837,000. TD Asset Management Inc increased its stake in Republic Services by 424.7% during the 1st quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after buying an additional 1,393,918 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Republic Services by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock worth $286,868,000 after buying an additional 3,809 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Company Profile

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.