Bank of America Cuts Republic Services (NYSE:RSG) Price Target to $241.00

Republic Services (NYSE:RSG) had its target price trimmed by Bank of America from $271.00 to $241.00 in a research report released on Monday,Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

Other research analysts have also recently issued reports about the company. Scotiabank cut their price objective on Republic Services from $250.00 to $246.00 and set a “sector perform” rating for the company in a report on Friday, October 31st. Sanford C. Bernstein assumed coverage on Republic Services in a research note on Wednesday, November 12th. They issued a “market perform” rating and a $205.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Republic Services in a research note on Monday, November 24th. They set a “buy” rating and a $255.00 price objective on the stock. National Bankshares reduced their price target on Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Finally, Robert W. Baird set a $240.00 price objective on shares of Republic Services in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $250.64.

Republic Services Stock Up 0.1%

Republic Services stock opened at $213.20 on Monday. The company has a 50-day simple moving average of $213.54 and a 200-day simple moving average of $227.95. The firm has a market capitalization of $66.00 billion, a P/E ratio of 31.73, a P/E/G ratio of 3.66 and a beta of 0.54. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58. Republic Services has a one year low of $199.43 and a one year high of $258.75.

Republic Services (NYSE:RSG) last released its earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.12. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.25 billion. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.81 earnings per share. As a group, equities analysts expect that Republic Services will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services’s dividend payout ratio is 37.20%.

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth purchased 478 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was bought at an average cost of $209.46 per share, with a total value of $100,121.88. Following the transaction, the director directly owned 5,740 shares in the company, valued at approximately $1,202,300.40. The trade was a 9.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Republic Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. AIA Group Ltd bought a new position in shares of Republic Services during the 3rd quarter valued at approximately $1,274,000. Allworth Financial LP increased its stake in shares of Republic Services by 4.5% in the third quarter. Allworth Financial LP now owns 1,846 shares of the business services provider’s stock worth $424,000 after acquiring an additional 79 shares during the period. IFP Advisors Inc raised its position in shares of Republic Services by 15.8% in the third quarter. IFP Advisors Inc now owns 2,621 shares of the business services provider’s stock worth $601,000 after acquiring an additional 357 shares during the period. Swiss Life Asset Management Ltd increased its stake in shares of Republic Services by 1.0% during the third quarter. Swiss Life Asset Management Ltd now owns 34,882 shares of the business services provider’s stock worth $8,005,000 after purchasing an additional 338 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Republic Services by 0.5% during the third quarter. CIBC Private Wealth Group LLC now owns 69,799 shares of the business services provider’s stock worth $16,017,000 after buying an additional 321 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.