Republic Services, Inc. Declares Quarterly Dividend of $0.58 (NYSE:RSG)

Republic Services, Inc. (NYSE:RSG) declared a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Stockholders of record on Thursday, January 2nd will be paid a dividend of 0.58 per share by the business services provider on Wednesday, January 15th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, January 2nd.

Republic Services has increased its dividend payment by an average of 7.5% per year over the last three years and has increased its dividend annually for the last 22 consecutive years. Republic Services has a dividend payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Republic Services to earn $6.83 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 34.0%.

Republic Services Stock Down 0.8 %

Shares of NYSE RSG opened at $201.19 on Tuesday. The stock has a fifty day moving average price of $208.49 and a 200 day moving average price of $203.34. The company has a market cap of $63.00 billion, a P/E ratio of 32.19, a P/E/G ratio of 3.30 and a beta of 0.71. Republic Services has a 12-month low of $162.27 and a 12-month high of $220.58. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business posted $1.54 EPS. Research analysts anticipate that Republic Services will post 6.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RSG. Royal Bank of Canada raised their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and raised their target price for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Scotiabank started coverage on Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Truist Financial raised their price objective on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer increased their target price on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $220.06.

Insider Buying and Selling at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

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.