Republic Services (NYSE:RSG) Coverage Initiated by Analysts at Melius

Melius initiated coverage on shares of Republic Services (NYSE:RSG) in a research note released on Monday morning, Marketbeat reports. The brokerage issued a hold rating on the business services provider’s stock.

A number of other research analysts have also commented on RSG. Wall Street Zen lowered Republic Services from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. The Goldman Sachs Group raised their target price on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. UBS Group upped their price target on shares of Republic Services from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Stifel Nicolaus raised their price objective on shares of Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Truist Financial upped their target price on Republic Services from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $252.68.

Republic Services Stock Down 1.4%

RSG stock opened at $249.38 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The firm’s 50-day simple moving average is $246.42 and its 200 day simple moving average is $229.24. The stock has a market cap of $77.93 billion, a PE ratio of 38.42, a price-to-earnings-growth ratio of 3.64 and a beta of 0.63. Republic Services has a fifty-two week low of $185.07 and a fifty-two week high of $258.75.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. The company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. Republic Services’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.45 earnings per share. As a group, sell-side analysts predict that Republic Services will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s dividend payout ratio is currently 34.99%.

Hedge Funds Weigh In On Republic Services

A number of hedge funds have recently modified their holdings of the stock. DnB Asset Management AS increased its position in Republic Services by 65.1% in the 4th quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider’s stock worth $14,672,000 after purchasing an additional 28,764 shares during the last quarter. Hickory Point Bank & Trust acquired a new position in Republic Services in the fourth quarter worth approximately $790,000. Uniting Wealth Partners LLC bought a new position in Republic Services during the fourth quarter valued at approximately $266,000. BNP Paribas Financial Markets lifted its stake in Republic Services by 3.4% in the fourth quarter. BNP Paribas Financial Markets now owns 435,835 shares of the business services provider’s stock valued at $87,681,000 after acquiring an additional 14,273 shares during the last quarter. Finally, National Pension Service increased its stake in shares of Republic Services by 3.5% during the 4th quarter. National Pension Service now owns 329,757 shares of the business services provider’s stock worth $66,341,000 after purchasing an additional 11,128 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

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.