Republic Services Inc. (RSG) Trading Up 1.6%
Republic Services Inc. (NYSE:RSG) rose 1.6% during trading on Wednesday . The company traded as high as $50.97 and last traded at $50.92, with a volume of 1,103,935 shares traded. The stock had previously closed at $50.10.
RSG has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Tuesday, April 19th. Barclays PLC increased their price target on Republic Services from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Imperial Capital increased their price target on Republic Services from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Oppenheimer Holdings Inc. initiated coverage on Republic Services in a research report on Wednesday, May 4th. They set a “market perform” rating on the stock. Finally, Bank of America Corp. restated a “buy” rating on shares of Republic Services in a research report on Monday, April 25th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $51.56.
The firm’s 50-day moving average price is $51.65 and its 200-day moving average price is $48.34. The company has a market cap of $17.56 billion and a P/E ratio of 24.61.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.38 billion. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 earnings per share. On average, analysts forecast that Republic Services Inc. will post $2.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.28 annualized dividend and a yield of 2.50%. This is a positive change from Republic Services’s previous quarterly dividend of $0.30.
In other Republic Services news, EVP Michael P. Rissman sold 61,768 shares of the business’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $49.41, for a total transaction of $3,051,956.88. Following the sale, the executive vice president now owns 37,552 shares of the company’s stock, valued at $1,855,444.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brian A. Goebel sold 3,780 shares of the business’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $50.83, for a total transaction of $192,137.40. Following the sale, the chief accounting officer now directly owns 7,671 shares in the company, valued at approximately $389,916.93. The disclosure for this sale can be found here.
Other hedge funds recently bought and sold shares of the company. Utah Retirement Systems boosted its stake in Republic Services by 0.5% in the fourth quarter. Utah Retirement Systems now owns 43,479 shares of the company’s stock worth $1,913,000 after buying an additional 200 shares during the last quarter. Advantus Capital Management Inc boosted its stake in 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 last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in Republic Services by 5.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 32,384 shares of the company’s stock worth $1,425,000 after buying an additional 1,573 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Republic Services by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 342,445 shares of the company’s stock worth $15,064,000 after buying an additional 5,212 shares during the last quarter. Finally, KBC Group NV boosted its stake in Republic Services by 67.6% in the fourth quarter. KBC Group NV now owns 54,456 shares of the company’s stock worth $2,396,000 after buying an additional 21,957 shares during the last quarter.
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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