Republic Services (NYSE:RSG) Raised to “Sector Outperform” at CIBC

Republic Services (NYSE:RSG) was upgraded by equities researchers at CIBC from a “neutral” rating to a “sector outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. The Goldman Sachs Group boosted their target price on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Truist Financial reaffirmed a “buy” rating and issued a $250.00 price target (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Argus set a $260.00 price objective on Republic Services in a research report on Tuesday, February 18th. Finally, BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their target price for the company from $211.00 to $238.00 in a report on Friday, December 6th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.56.

Republic Services Trading Down 1.7 %

Shares of RSG stock traded down $4.08 on Tuesday, hitting $235.55. The stock had a trading volume of 1,166,932 shares, compared to its average volume of 1,029,662. The company’s 50 day moving average price is $216.48 and its 200-day moving average price is $210.05. Republic Services has a 1 year low of $180.91 and a 1 year high of $240.95. The firm has a market capitalization of $73.56 billion, a P/E ratio of 36.29, a P/E/G ratio of 3.64 and a beta of 0.74. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.21. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same quarter in the prior year, the company earned $1.41 earnings per share. Analysts anticipate that Republic Services will post 6.86 earnings per share for the current year.

Insider Buying and Selling at Republic Services

In related news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the sale, the director now directly owns 879 shares of the company’s stock, valued at $189,222.33. This represents a 67.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % 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 bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Republic Services by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock worth $3,740,083,000 after buying an additional 144,719 shares during the period. Pictet Asset Management Holding SA lifted its position in Republic Services by 3.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider’s stock worth $1,259,855,000 after acquiring an additional 218,729 shares during the period. Wellington Management Group LLP grew its stake in shares of 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 purchasing an additional 1,131,850 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Republic Services by 10.4% in 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 during the period. Finally, Geode Capital Management LLC raised its stake in shares of Republic Services by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider’s stock worth $918,045,000 after purchasing an additional 57,616 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

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.