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

Republic Services, Inc. (NYSE:RSG) declared a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Stockholders of record on Wednesday, April 2nd will be given a dividend of 0.58 per share by the business services provider on Tuesday, April 15th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Wednesday, April 2nd.

Republic Services has raised its dividend by an average of 8.0% per year over the last three years and has increased its dividend every year for the last 21 years. Republic Services has a dividend payout ratio of 30.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Republic Services to earn $6.77 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 34.3%.

Republic Services Stock Performance

Shares of RSG stock traded down $0.03 on Friday, reaching $221.55. The stock had a trading volume of 280,095 shares, compared to its average volume of 954,612. The firm has a market capitalization of $69.38 billion, a price-to-earnings ratio of 35.44, a P/E/G ratio of 3.17 and a beta of 0.74. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services has a 12 month low of $171.06 and a 12 month high of $222.65. The firm’s 50-day moving average is $209.96 and its two-hundred day moving average is $206.15.

Insider Activity

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

Analysts Set New Price Targets

Several research firms recently issued reports on RSG. Jefferies Financial Group increased their price target on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Morgan Stanley lifted their price target on shares of Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. CIBC lifted their price target on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Truist Financial lifted their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.38.

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.