Republic Services (NYSE:RSG) Raised to "Outperform" at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Republic Services (NYSE:RSG - Free Report) from a sector perform rating to an outperform rating in a research note published on Monday morning, MarketBeat Ratings reports. The firm currently has $237.00 target price on the business services provider's stock, up from their previous target price of $219.00.

Other equities analysts have also issued research reports about the stock. Morgan Stanley boosted their target price on shares of Republic Services from $217.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th. Truist Financial boosted their price target on Republic Services from $220.00 to $244.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. William Blair started coverage on shares of Republic Services in a report on Thursday, October 3rd. They set an "outperform" rating for the company. Oppenheimer lifted their price target on Republic Services from $219.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, Scotiabank assumed coverage on Republic Services in a report on Friday, October 4th. They set a "sector perform" rating and a $224.00 price objective on the stock. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $221.12.

Republic Services Stock Down 0.1 %

NYSE RSG traded down $0.11 during trading on Monday, reaching $200.93. The company's stock had a trading volume of 864,173 shares, compared to its average volume of 840,358. 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 has a 1-year low of $162.27 and a 1-year high of $220.58. The business has a 50-day moving average price of $208.38 and a 200-day moving average price of $203.62. The stock has a market capitalization of $62.92 billion, a PE ratio of 32.15, a PEG ratio of 3.30 and a beta of 0.73.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.20. The firm 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 company's revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 earnings per share. On average, research analysts forecast that Republic Services will post 6.25 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 1.15%. Republic Services's payout ratio is 37.12%.

Insider Activity at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the transaction, the director now directly owns 879 shares in the company, valued at $189,222.33. This trade represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RSG. Foundations Investment Advisors LLC bought a new stake in shares of Republic Services in the second quarter valued at about $203,000. Private Advisor Group LLC boosted its stake in shares of Republic Services by 5.2% during the second quarter. Private Advisor Group LLC now owns 18,068 shares of the business services provider's stock valued at $3,511,000 after purchasing an additional 885 shares in the last quarter. Candriam S.C.A. acquired a new position in shares of Republic Services during the second quarter worth $201,000. Strategic Financial Concepts LLC bought a new stake in shares of Republic Services in the 2nd quarter valued at about $97,000. Finally, Caprock Group LLC boosted its holdings in Republic Services by 172.1% in the second quarter. Caprock Group LLC now owns 3,959 shares of the business services provider's stock valued at $769,000 after acquiring an additional 2,504 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

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.