Republic Services, Inc. (NYSE:RSG) Plans $0.58 Quarterly Dividend

Republic Services, Inc. (NYSE:RSG) announced a quarterly dividend on Wednesday, February 5th, Wall Street Journal reports. Stockholders of record on Wednesday, April 2nd will be paid a dividend of 0.58 per share by the business services provider on Tuesday, April 15th. This represents a $2.32 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Wednesday, April 2nd.

Republic Services has increased its dividend by an average of 8.0% per year over the last three years and has increased its dividend annually for the last 22 consecutive years. Republic Services has a dividend payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Republic Services to earn $7.51 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 30.9%.

Republic Services Price Performance

Shares of NYSE:RSG opened at $238.37 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. Republic Services has a 12 month low of $180.92 and a 12 month high of $241.09. The firm has a market capitalization of $74.44 billion, a P/E ratio of 36.73, a P/E/G ratio of 3.64 and a beta of 0.73. The company’s fifty day moving average price is $227.72 and its 200 day moving average price is $213.86.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period in the previous year, the business earned $1.41 EPS. As a group, sell-side analysts predict that Republic Services will post 6.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RSG shares. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. UBS Group upped their price objective on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. Finally, Truist Financial reaffirmed a “buy” rating and set a $250.00 price target (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.88.

Insider Buying and Selling

In related 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 value of $1,436,062.60. Following the sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Republic Services

A hedge fund recently raised its stake in Republic Services stock. Brighton Jones LLC boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 75.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,822 shares of the business services provider’s stock after buying an additional 8,547 shares during the period. Brighton Jones LLC’s holdings in Republic Services were worth $3,988,000 at the end of the most recent reporting period. Institutional investors own 57.73% of the company’s stock.

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.