Republic Services Inc. (RSG) Sets New 1-Year High at $52.92
Republic Services Inc. (NYSE:RSG) reached a new 52-week high on Tuesday . The stock traded as high as $52.92 and last traded at $52.47, with a volume of 385,417 shares. The stock had previously closed at $52.61.
RSG has been the subject of several research analyst reports. Oppenheimer Holdings Inc. initiated coverage on shares of Republic Services in a report on Wednesday, May 4th. They issued a “market perform” rating for the company. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Tuesday, April 19th. First Analysis upped their price objective on shares of Republic Services from $47.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, April 7th. Argus initiated coverage on shares of Republic Services in a report on Wednesday, May 18th. They issued a “hold” rating and a $50.00 price objective for the company. Finally, Barclays PLC raised shares of Republic Services from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $45.00 to $52.00 in a report on Tuesday, May 3rd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Republic Services has a consensus rating of “Buy” and an average price target of $50.44.
The stock has a 50 day moving average of $49.74 and a 200-day moving average of $46.89. The company has a market cap of $17.99 billion and a PE ratio of 25.02.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, April 28th. The company reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.23 billion. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. Analysts expect that Republic Services Inc. will post $2.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, June 29th. This represents a $1.20 annualized dividend and a yield of 2.28%.
In other Republic Services news, EVP Michael P. Rissman sold 61,768 shares of the stock in a transaction on Friday, June 10th. The stock was sold at an average price of $49.41, for a total transaction of $3,051,956.88. Following the completion of the transaction, the executive vice president now directly owns 37,552 shares in the company, valued at $1,855,444.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Donald W. Slager sold 106,112 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $48.52, for a total value of $5,148,554.24. Following the transaction, the chief executive officer now owns 232,709 shares of the company’s stock, valued at $11,291,040.68. The disclosure for this sale can be found here.
Several hedge funds have made changes to their positions in RSG. BP PLC acquired a new stake in shares of Republic Services during the fourth quarter worth $1,980,000. Advantus Capital Management Inc raised its stake in shares of Republic Services by 2.6% in the fourth quarter. Advantus Capital Management Inc now owns 23,073 shares of the company’s stock worth $1,015,000 after buying an additional 582 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of Republic Services by 2.4% in the fourth quarter. Gulf International Bank UK Ltd now owns 72,745 shares of the company’s stock worth $3,200,000 after buying an additional 1,690 shares during the period. Madison Investment Holdings Inc. raised its stake in shares of Republic Services by 6.4% in the fourth quarter. Madison Investment Holdings Inc. now owns 474,360 shares of the company’s stock worth $20,867,000 after buying an additional 28,500 shares during the period. Finally, Emerson Investment Management LLC raised its stake in shares of Republic Services by 3.1% in the fourth quarter. Emerson Investment Management LLC now owns 194,655 shares of the company’s stock worth $8,563,000 after buying an additional 5,835 shares during the period.
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services in the United States. The Company operates through three segments: East, Central and West. The Company operates in over 40 states and Puerto Rico through approximately 340 collection operations, over 200 transfer stations, over 190 active landfills, approximately 70 recycling centers, approximately 10 treatment, recovery and disposal facilities, and over 10 salt water disposal wells.
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