Republic Services (NYSE:RSG) Hits New 1-Year High - Here's Why

Republic Services, Inc. (NYSE:RSG - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $216.32 and last traded at $215.97, with a volume of 63125 shares changing hands. The stock had previously closed at $214.06.

Analysts Set New Price Targets

RSG has been the topic of several analyst reports. Royal Bank of Canada upped their target price on Republic Services from $211.00 to $219.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. CIBC increased their price target on Republic Services from $208.00 to $217.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their price target on Republic Services from $209.00 to $211.00 and gave the company a "market perform" rating in a research report on Thursday, July 25th. Robert W. Baird increased their price target on Republic Services from $208.00 to $210.00 and gave the company a "neutral" rating in a research report on Thursday, July 25th. Finally, StockNews.com cut Republic Services from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 1st. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Republic Services has a consensus rating of "Moderate Buy" and an average price target of $215.71.

Republic Services Stock Up 0.7 %

The firm's 50 day simple moving average is $204.34 and its two-hundred day simple moving average is $198.65. The firm has a market cap of $67.49 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 3.22 and a beta of 0.70. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 earnings per share. On average, equities analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.08%. Republic Services's payout ratio is 37.12%.

Insider Buying and Selling at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the transaction, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.09% of the company's stock.

Hedge Funds Weigh In On Republic Services

A number of institutional investors have recently added to or reduced their stakes in RSG. EntryPoint Capital LLC bought a new stake in Republic Services during the 1st quarter worth $29,000. CreativeOne Wealth LLC acquired a new position in shares of Republic Services in the first quarter valued at approximately $333,000. EP Wealth Advisors LLC increased its stake in shares of Republic Services by 62.9% in the first quarter. EP Wealth Advisors LLC now owns 3,800 shares of the business services provider's stock valued at $727,000 after buying an additional 1,467 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Republic Services by 32.6% in the first quarter. Advisors Asset Management Inc. now owns 21,687 shares of the business services provider's stock valued at $4,152,000 after buying an additional 5,333 shares during the period. Finally, Capital International Inc. CA increased its stake in shares of Republic Services by 23.8% in the first quarter. Capital International Inc. CA now owns 11,590 shares of the business services provider's stock valued at $2,219,000 after buying an additional 2,231 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

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.

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