Republic Services (NYSE:RSG) Sets New 12-Month High - Here's Why

Shares of Republic Services, Inc. (NYSE:RSG - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $244.00 and last traded at $243.57, with a volume of 1366436 shares. The stock had previously closed at $242.16.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Truist Financial reaffirmed a "buy" rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Stifel Nicolaus upped their price target on shares of Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a "hold" rating to a "buy" rating and lifted their price objective for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. Morgan Stanley upped their target price on shares of Republic Services from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Finally, Cibc World Mkts raised shares of Republic Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 4th. Five 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, the company has a consensus rating of "Moderate Buy" and an average price target of $236.88.

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Republic Services Price Performance

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 50 day moving average of $230.70 and a 200-day moving average of $215.25. The company has a market cap of $73.48 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping 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 firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. Equities analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

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 yield of 0.99%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services's dividend payout ratio is currently 35.75%.

Insider Buying and Selling at Republic Services

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

Hedge Funds Weigh In On Republic Services

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in Republic Services in the fourth quarter valued at approximately $553,039,000. Wellington Management Group LLP grew its stake in Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider's stock valued at $1,205,883,000 after acquiring an additional 1,131,850 shares during the period. Raymond James Financial Inc. purchased a new stake in Republic Services in the 4th quarter worth $184,827,000. Nordea Investment Management AB raised its position in Republic Services by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock worth $626,553,000 after acquiring an additional 509,116 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Republic Services by 10.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock valued at $1,069,836,000 after purchasing an additional 499,237 shares in the last quarter. Hedge funds and other 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.