Republic Services (NYSE:RSG) Given New $270.00 Price Target at Citigroup

Republic Services (NYSE:RSG) had its target price lowered by Citigroup from $280.00 to $270.00 in a report published on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the business services provider’s stock.

A number of other analysts have also weighed in on the stock. Scotiabank increased their price objective on shares of Republic Services from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Friday, July 18th. Melius began coverage on shares of Republic Services in a research report on Monday, June 9th. They issued a “hold” rating on the stock. Wall Street Zen lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. BMO Capital Markets increased their price objective on shares of Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Finally, Oppenheimer increased their price objective on shares of Republic Services from $262.00 to $268.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average price target of $261.72.

Republic Services Stock Up 0.4%

Shares of NYSE:RSG opened at $226.27 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services has a 12 month low of $197.60 and a 12 month high of $258.75. The company has a 50-day moving average price of $235.09 and a 200 day moving average price of $240.76. The company has a market cap of $70.65 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 3.52 and a beta of 0.59.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the firm earned $1.61 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities research analysts predict that Republic Services will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.1%. This is a positive change from Republic Services’s previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services’s payout ratio is 34.32%.

Insider Activity at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total value of $1,716,651.72. Following the completion of the sale, the executive vice president directly owned 4,060 shares in the company, valued at $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the purchase, the insider owned 109,816,832 shares of the company’s stock, valued at $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Republic Services

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Republic Services by 1.6% during the second quarter. Vanguard Group Inc. now owns 19,057,995 shares of the business services provider’s stock worth $4,699,892,000 after buying an additional 296,719 shares during the period. Wellington Management Group LLP lifted its stake in shares of Republic Services by 0.7% during the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider’s stock worth $1,438,237,000 after buying an additional 42,019 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Republic Services by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider’s stock worth $1,292,050,000 after buying an additional 17,711 shares during the period. Geode Capital Management LLC lifted its stake in shares of Republic Services by 3.1% during the second quarter. Geode Capital Management LLC now owns 4,821,387 shares of the business services provider’s stock worth $1,187,328,000 after buying an additional 144,003 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Republic Services by 4.3% during the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock worth $695,541,000 after purchasing an additional 119,158 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

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.