Republic Services Inc. (RSG) Sets New 1-Year High at $52.92
Shares of 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 trading hands. The stock had previously closed at $52.61.
Several analysts recently weighed in on RSG shares. Sterne Agee CRT started coverage on Republic Services in a report on Tuesday, March 22nd. They issued a “neutral” rating and a $50.00 price objective for the company. First Analysis lifted their price objective on Republic Services from $47.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, April 7th. Zacks Investment Research upgraded 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. Bank of America Corp. restated a “buy” rating on shares of Republic Services in a report on Monday, April 25th. Finally, Barclays PLC upgraded Republic Services from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $45.00 to $52.00 in a report on Tuesday, May 3rd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $50.44.
The stock’s 50-day moving average is $49.99 and its 200-day moving average is $46.97. The company has a market cap of $18.04 billion and a PE ratio of 25.09.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, April 28th. The company reported $0.48 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.48. During the same period in the previous year, the firm posted $0.49 EPS. The company earned $2.25 billion during the quarter, compared to analyst estimates of $2.23 billion. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts forecast that Republic Services Inc. will post $2.16 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, July 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Wednesday, June 29th.
In other news, CAO Brian A. Goebel sold 1,695 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $52.10, for a total value of $88,309.50. Following the transaction, the chief accounting officer now owns 6,391 shares of the company’s stock, valued at $332,971.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael P. Rissman sold 61,768 shares of the business’s stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $49.41, for a total value 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 approximately $1,855,444.32. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. BP PLC bought a new position in Republic Services during the fourth quarter worth about $1,980,000. Advantus Capital Management Inc increased 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 period. Gulf International Bank UK Ltd increased its stake in 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. increased its stake in 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, Gluskin Sheff & Assoc Inc. acquired a new stake in Republic Services during the fourth quarter worth $1,761,000.
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.