Morgan Stanley Forecasts Strong Price Appreciation for Republic Services (NYSE:RSG) Stock

Republic Services (NYSE:RSG) had its target price increased by Morgan Stanley from $208.00 to $217.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the business services provider’s stock.

RSG has been the topic of several other reports. Oppenheimer increased their price target on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday. Stifel Nicolaus increased their price target on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Robert W. Baird increased their price target on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Scotiabank assumed coverage on shares of Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Price Performance

Shares of Republic Services stock opened at $198.58 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $62.19 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 3.04 and a beta of 0.70. Republic Services has a 1-year low of $148.36 and a 1-year high of $208.69. The firm’s 50-day moving average price is $203.43 and its two-hundred day moving average price is $196.81.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 earnings per share. On average, equities analysts predict that Republic Services will post 6.23 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.17%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Republic Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Republic Services during the third quarter worth $273,000. Atria Investments Inc raised its holdings in shares of Republic Services by 7.8% during the third quarter. Atria Investments Inc now owns 12,179 shares of the business services provider’s stock worth $2,446,000 after acquiring an additional 881 shares during the period. Assetmark Inc. grew its position in Republic Services by 8.2% in the third quarter. Assetmark Inc. now owns 18,319 shares of the business services provider’s stock valued at $3,679,000 after purchasing an additional 1,394 shares in the last quarter. Villere ST Denis J & Co. LLC increased its stake in Republic Services by 1.5% in the 3rd quarter. Villere ST Denis J & Co. LLC now owns 63,882 shares of the business services provider’s stock valued at $12,830,000 after buying an additional 960 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in Republic Services in the 3rd quarter valued at $345,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

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.