Scotiabank Initiates Coverage on Republic Services (NYSE:RSG)

Scotiabank started coverage on shares of Republic Services (NYSE:RSG) in a research note released on Friday, MarketBeat.com reports. The brokerage issued a sector perform rating and a $224.00 target price on the business services provider’s stock.

A number of other equities analysts have also commented on the stock. William Blair began coverage on shares of Republic Services in a report on Thursday, October 3rd. They issued an outperform rating on the stock. Stifel Nicolaus boosted their price objective on shares of Republic Services from $215.00 to $230.00 and gave the stock a buy rating in a report on Thursday, July 25th. Raymond James cut their target price on shares of Republic Services from $219.00 to $214.00 and set an outperform rating on the stock in a research note on Thursday, July 25th. Truist Financial upgraded shares of Republic Services from a hold rating to a buy rating and upped their target price for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. Finally, TD Cowen upped their target price on shares of Republic Services from $195.00 to $200.00 and gave the company a hold rating in a research note on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $211.65.

Republic Services Stock Down 1.0 %

Shares of Republic Services stock opened at $198.61 on Friday. The company has a fifty day moving average price of $202.55 and a 200 day moving average price of $194.96. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services has a twelve month low of $142.65 and a twelve month high of $208.69. The stock has a market cap of $62.55 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 3.21 and a beta of 0.69.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Equities research analysts forecast that Republic Services will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a yield of 1.17%. Republic Services’s dividend payout ratio is 40.70%.

Insiders Place Their Bets

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. YHB Investment Advisors Inc. bought a new position in Republic Services in the 1st quarter worth about $29,000. EntryPoint Capital LLC bought a new position in shares of Republic Services in the first quarter valued at approximately $29,000. Jones Financial Companies Lllp boosted its holdings in shares of Republic Services by 3,014.3% in the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 211 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Republic Services in the second quarter valued at approximately $36,000. Finally, Indiana Trust & Investment Management CO bought a new position in shares of Republic Services in the second quarter valued at approximately $45,000. 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.