Republic Services (NYSE:RSG) Reaches New 52-Week High – Should You Buy?

Republic Services, Inc. (NYSE:RSG)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $216.32 and last traded at $215.97, with a volume of 63125 shares traded. The stock had previously closed at $214.06.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RSG shares. Oppenheimer increased their price target on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Truist Financial boosted their price objective on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Price Performance

The stock has a market cap of $67.89 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 3.27 and a beta of 0.70. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The company’s 50-day moving average is $204.56 and its 200-day moving average is $198.93.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter last year, the company earned $1.54 EPS. Republic Services’s revenue was up 6.5% on a year-over-year basis. Equities research analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Buying and Selling at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RSG. Simmons Bank lifted its position in shares of Republic Services by 2.8% during the third quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock worth $381,000 after purchasing an additional 51 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Republic Services by 1.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after buying an additional 52 shares during the last quarter. RFG Advisory LLC increased its stake in shares of Republic Services by 0.5% in the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock valued at $2,061,000 after buying an additional 53 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Republic Services by 2.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock valued at $362,000 after acquiring an additional 53 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Republic Services by 16.5% in the third quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock valued at $77,000 after acquiring an additional 54 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.