Morgan Stanley Boosts Republic Services (NYSE:RSG) Price Target to $245.00

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

Several other equities analysts have also recently issued reports on RSG. Stifel Nicolaus boosted their target price on shares of Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. BMO Capital Markets lifted their price objective on Republic Services from $260.00 to $268.00 and gave the stock an “outperform” rating in a report on Friday. Raymond James reissued an “outperform” rating on shares of Republic Services in a research note on Wednesday, April 16th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Finally, Robert W. Baird boosted their price objective on Republic Services from $232.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.38.

Republic Services Trading Up 1.3 %

NYSE RSG opened at $243.96 on Friday. The stock has a market cap of $76.23 billion, a P/E ratio of 37.59, a P/E/G ratio of 3.64 and a beta of 0.62. 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 company has a fifty day simple moving average of $236.86 and a two-hundred day simple moving average of $219.46. Republic Services has a 12-month low of $180.92 and a 12-month high of $249.73.

Republic Services (NYSE:RSG) 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 $1.55 by $0.03. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. On average, analysts forecast that Republic Services will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

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

Insider Buying and Selling at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Republic Services

Several hedge funds and other institutional investors have recently made changes to their positions in RSG. Versant Capital Management Inc raised its holdings in shares of Republic Services by 0.4% in the 1st quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider’s stock valued at $2,415,000 after purchasing an additional 44 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in Republic Services by 0.5% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider’s stock worth $1,740,000 after purchasing an additional 46 shares during the period. Elevation Point Wealth Partners LLC grew its holdings in shares of Republic Services by 4.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider’s stock worth $279,000 after buying an additional 46 shares during the last quarter. McGlone Suttner Wealth Management Inc. grew its stake in shares of Republic Services by 2.2% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock valued at $445,000 after purchasing an additional 48 shares during the last quarter. Finally, FORA Capital LLC increased its stake in Republic Services by 0.7% in the 4th quarter. FORA Capital LLC now owns 7,659 shares of the business services provider’s stock valued at $1,541,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors 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.