Republic Services (NYSE:RSG) Hits New 52-Week High Following Analyst Upgrade

Republic Services, Inc. (NYSE:RSG - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $229.00 to $275.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Republic Services traded as high as $253.66 and last traded at $253.18, with a volume of 465580 shares trading hands. The stock had previously closed at $251.00.

A number of other equities research analysts also recently issued reports on RSG. Robert W. Baird boosted their price target on Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Citigroup raised their price objective on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Truist Financial upped their target price on shares of Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. The Goldman Sachs Group boosted their price objective on shares of Republic Services from $239.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Finally, Stifel Nicolaus upped their price objective on Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $250.44.

Hedge Funds Weigh In On Republic Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Golden State Wealth Management LLC boosted its holdings in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after purchasing an additional 106 shares during the last quarter. Arcadia Investment Management Corp MI boosted its stake in Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock valued at $27,000 after buying an additional 88 shares during the last quarter. Key Financial Inc grew its holdings in Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after buying an additional 99 shares in the last quarter. TCTC Holdings LLC increased its stake in Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after acquiring an additional 66 shares during the last quarter. Finally, Elequin Capital LP purchased a new stake in shares of Republic Services during the 1st quarter worth approximately $30,000. Institutional investors own 57.73% of the company's stock.

Republic Services Stock Up 0.8%

The business has a 50-day moving average price of $242.55 and a 200 day moving average price of $225.37. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $79.05 billion, a P/E ratio of 38.98, a P/E/G ratio of 3.64 and a beta of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data 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 business had revenue of $4.01 billion during 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 quarterly 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. On average, equities analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed 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 0.92%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's payout ratio is 34.99%.

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.

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