Barclays Begins Coverage on Republic Services (NYSE:RSG)

Barclays started coverage on shares of Republic Services (NYSE:RSG) in a note issued to investors on Friday, MarketBeat reports. The firm set an “equal weight” rating and a $240.00 price target on the business services provider’s stock. Barclays‘s price objective would indicate a potential upside of 5.77% from the stock’s previous close.

RSG has been the subject of a number of other reports. National Bank Financial raised Republic Services to a “hold” rating in a research report on Monday, May 26th. Scotiabank boosted their price objective on Republic Services from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Friday, July 18th. Raymond James Financial boosted their price objective on Republic Services from $257.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. UBS Group set a $260.00 price objective on Republic Services and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Finally, Melius began coverage on Republic Services in a report on Monday, June 9th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $260.58.

Republic Services Stock Performance

Shares of Republic Services stock opened at $226.90 on Friday. Republic Services has a one year low of $197.60 and a one year high of $258.75. The company has a market cap of $70.84 billion, a PE ratio of 33.57, a P/E/G ratio of 3.54 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The business has a 50-day simple moving average of $234.54 and a 200-day simple moving average of $240.64.

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

Insider Buying and Selling

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was 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 owned 4,060 shares in the company, valued at approximately $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services 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 purchase, the insider owned 109,816,832 shares of the company’s stock, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Republic Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its stake in Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock valued at $26,000 after buying an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC raised its stake in shares of Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. NewSquare Capital LLC raised its stake in shares of Republic Services by 68.5% during the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. TCTC Holdings LLC raised its stake in shares of Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Finally, Key Financial Inc raised its stake in shares of Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock worth $30,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

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.