Republic Services (NYSE:RSG) Given New $250.00 Price Target at Scotiabank

Republic Services (NYSE:RSG) had its price objective lifted by Scotiabank from $233.00 to $250.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a sector perform rating on the business services provider’s stock.

A number of other brokerages have also recently commented on RSG. CIBC upgraded shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target on the stock in a research report on Tuesday, March 4th. The Goldman Sachs Group lifted their target price on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. William Blair restated an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. UBS Group lifted their price objective on Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Argus set a $260.00 price target on Republic Services in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and an average price target of $238.50.

Republic Services Stock Performance

Republic Services stock opened at $227.13 on Tuesday. Republic Services has a fifty-two week low of $180.92 and a fifty-two week high of $249.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The stock has a market cap of $70.93 billion, a P/E ratio of 35.00, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. The firm’s fifty day moving average price is $231.53 and its 200-day moving average price is $215.73.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the business posted $1.41 earnings per share. On average, equities research analysts expect that Republic Services will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 35.75%.

Insiders Place Their Bets

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Republic Services

Several hedge funds have recently made changes to their positions in RSG. Arcadia Investment Management Corp MI boosted its holdings in shares of Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after buying an additional 88 shares in the last quarter. R Squared Ltd purchased a new stake in Republic Services in the fourth quarter worth about $32,000. New Age Alpha Advisors LLC increased its stake in shares of Republic Services by 70.2% during the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 73 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of Republic Services during the fourth quarter valued at approximately $44,000. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of Republic Services in the 4th quarter worth approximately $45,000. 57.73% of the stock is currently owned by institutional investors.

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.