Republic Services (NYSE:RSG) Given New $245.00 Price Target at Morgan Stanley

Republic Services (NYSE:RSG) had its target price boosted by Morgan Stanley from $230.00 to $245.00 in a research note published on Friday morning,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Other equities analysts also recently issued reports about the stock. Argus set a $260.00 price target on shares of Republic Services in a research note on Tuesday, February 18th. The Goldman Sachs Group increased their target price on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Raymond James restated an “outperform” rating on shares of Republic Services in a research report on Wednesday, April 16th. Stifel Nicolaus increased their price objective on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, UBS Group boosted their target price on shares of Republic Services from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.38.

Republic Services Stock Up 1.3 %

NYSE RSG opened at $243.96 on Friday. The business’s 50-day moving average is $236.86 and its 200 day moving average is $219.46. The stock has a market capitalization of $76.23 billion, a PE ratio of 37.59, a PEG ratio of 3.64 and a beta of 0.62. 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 has a 1 year low of $180.92 and a 1 year high of $249.73.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.03. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Sell-side analysts forecast that Republic Services will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s dividend payout ratio is currently 34.99%.

Insider Activity at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by insiders.

Institutional Trading of Republic Services

Several large investors have recently modified their holdings of RSG. Norges Bank purchased a new stake in shares of Republic Services in the 4th quarter worth $553,039,000. GAMMA Investing LLC grew its stake in Republic Services by 39,024.4% during the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider’s stock valued at $539,091,000 after acquiring an additional 2,220,487 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Republic Services in the fourth quarter worth about $184,827,000. Nordea Investment Management AB increased its stake in Republic Services by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after acquiring an additional 509,116 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Republic Services by 10.4% during the 4th 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 buying an additional 499,237 shares in the last quarter. 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.