Republic Services, Inc. (NYSE:RSG) Given Consensus Rating of “Hold” by Brokerages
Shares of Republic Services, Inc. (NYSE:RSG) have been assigned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $85.19.
RSG has been the subject of several analyst reports. Bank of America reaffirmed a “neutral” rating and set a $85.00 price objective (up from $79.00) on shares of Republic Services in a research report on Friday, April 26th. Raymond James set a $93.00 price objective on Republic Services and gave the stock an “outperform” rating in a research report on Friday, July 26th. Zacks Investment Research raised Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $90.00 in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. initiated coverage on Republic Services in a research report on Wednesday, August 7th. They set a “neutral” rating and a $94.00 price objective for the company.
RSG traded up $0.54 on Friday, hitting $89.23. 164,048 shares of the company were exchanged, compared to its average volume of 1,102,640. Republic Services has a twelve month low of $67.48 and a twelve month high of $90.60. The stock has a market capitalization of $28.73 billion, a P/E ratio of 28.88, a price-to-earnings-growth ratio of 3.06 and a beta of 0.50. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $87.96.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.405 per share. This is a boost from Republic Services’s previous quarterly dividend of $0.38. This represents a $1.62 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, September 30th. Republic Services’s dividend payout ratio is currently 48.54%.
In other news, EVP Catharine D. Ellingsen sold 3,100 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was 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 of the company’s stock, valued at approximately $1,287,630. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC raised its stake in shares of Republic Services by 744.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 932,774 shares of the business services provider’s stock worth $80,816,000 after buying an additional 822,340 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Republic Services by 0.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,288,957 shares of the business services provider’s stock worth $111,675,000 after buying an additional 11,623 shares in the last quarter. CSat Investment Advisory L.P. raised its stake in shares of Republic Services by 206.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 681 shares of the business services provider’s stock worth $59,000 after buying an additional 459 shares in the last quarter. Point72 Hong Kong Ltd raised its stake in shares of Republic Services by 1,321.8% during the 2nd quarter. Point72 Hong Kong Ltd now owns 5,801 shares of the business services provider’s stock worth $503,000 after buying an additional 5,393 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Republic Services by 297.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 75,343 shares of the business services provider’s stock worth $6,528,000 after buying an additional 56,406 shares in the last quarter. 58.73% of the stock is owned by institutional investors and hedge funds.
Republic Services Company Profile
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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