Republic Services (NYSE:RSG) Price Target Raised to $270.00

Republic Services (NYSE:RSG - Get Free Report) had its target price hoisted by Truist Financial from $250.00 to $270.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the business services provider's stock. Truist Financial's price objective points to a potential upside of 10.67% from the stock's current price.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group lifted their price objective on Republic Services from $235.00 to $244.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Argus set a $260.00 price objective on shares of Republic Services in a research report on Tuesday, February 18th. UBS Group raised their target price on shares of Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Scotiabank boosted their price target on Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a report on Tuesday, April 8th. Finally, Raymond James restated an "outperform" rating on shares of Republic Services in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $245.38.

Republic Services Price Performance

NYSE:RSG traded up $3.20 during mid-day trading on Tuesday, hitting $243.96. 1,947,545 shares of the company's stock traded hands, compared to its average volume of 1,116,214. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The company has a market cap of $76.23 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. The firm's 50 day simple moving average is $236.86 and its 200 day simple moving average is $219.56. Republic Services has a 1 year low of $180.92 and a 1 year high of $249.73.

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

Insider Transactions at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company's stock.

Institutional Investors Weigh In On Republic Services

A number of large investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Republic Services during the fourth quarter worth $553,039,000. GAMMA Investing LLC increased its position in shares of 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 worth $539,091,000 after acquiring an additional 2,220,487 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Republic Services in the fourth quarter worth about $184,827,000. Nordea Investment Management AB grew its stake in Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock valued at $626,553,000 after purchasing an additional 509,116 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in 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 worth $1,069,836,000 after purchasing an additional 499,237 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

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.