The Vanguard Group, Inc. recently announced the acquisition of new stake in Republic Services Inc. (NYSE:RSG). The institutional investor has increased its shareholding in the Industrials company by 1.15% to 17.42 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 5.51% valued currently at $2.25 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.39 million to 14.49 million shares. And Geode Capital Management LLC has lifted its position by 0.86% or 37823.0 shares – to 4.43 million shares.
With over 2.58 million Republic Services Inc. (RSG) shares trading Tuesday and a closing price of $132.03 on the day, the dollar volume was approximately $340.88 million. The shares have shown a negative half year performance of -10.85% and its price on 03/14/23 gained nearly 2.83%. Currently, there are 316.50M common shares owned by the public and among those 315.20M shares have been available to trade.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for RSG have a consensus price objective of $147.33. The analysts have set the share’s price value over the next 12 months at a high of $173.00 and a low of $134.00. The average price target is 10.32% above its recent price level and an upside to the estimated low will see the stock gain 1.47% over that period. But an upside of 23.68% will see the stock hit the forecast high price target while median target price for the stock is $144.00.
Insiders at the company have transacted a total of 47 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 182,534 shares. Insider sales of the common stock occurred on 21 occasions, with total insider shares sold totaling 112,964 shares.
The top 3 mutual fund holders in Republic Services Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and iShares Tr. – Edge MSCI Min. Vol. Vanguard Total Stock Market Index owns 6.29 million shares of the company’s stock, all valued at over $811.41 million. The company bought an additional 44864.0 shares recently to bring their total holdings to about 1.99% of the shares outstanding. Vanguard 500 Index Fund bought 11250.0 shares to see its total holdings expand to 4.76 million shares valued at over $613.62 million and representing 1.51% of the shares outstanding. iShares Tr. – Edge MSCI Min. Vol sold 5719.0 shares to bring its total holdings to over 3.26 million shares at a value of $419.92 million. iShares Tr. – Edge MSCI Min. Vol now owns shares totaling to 1.03% of the shares outstanding.
Shares of Republic Services Inc. (NYSE: RSG) opened at $129.50, up $1.1 from a prior closing price of $128.40. However, the script later moved the day high at 132.52, up 2.83%. The company’s stock has a 5-day price change of 3.47% and -2.78% over the past three months. RSG shares are trading 2.36% year to date (YTD), with the 12-month market performance up to 4.34% higher. It has a 12-month low price of $119.72 and touched a high of $149.17 over the same period. RSG has an average intraday trading volume of 1.49 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.74%, 4.38%, and -0.90% respectively.
Institutional ownership of Republic Services Inc. (NYSE: RSG) shares accounts for 95.80% of the company’s 316.50M shares outstanding. Mutual fund holders own 34.74%, while other institutional holders and individual stakeholders account for 35.30% and 25.08% respectively.
It has a market capitalization of $42.14B and a beta (3y monthly) value of 0.66. The stock’s trailing 12-month PE ratio is 28.14, while the earnings-per-share (ttm) stands at $4.69. The company has a PEG of 3.14 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 1.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.91% over the week and 1.73% over the month.
Analysts forecast that Republic Services Inc. (RSG) will achieve an EPS of $1.02 for the current quarter, $1.15 for the next quarter and $5.04 for 2023. The lowest estimate earnings-per-share for the quarter is $0.93 while analysts give the company a high EPS estimate of $1.1. Comparatively, EPS for the current quarter was $1.02 a year ago. Earnings per share for the fiscal year are expected to increase by 16.10%, and 11.59% over the next financial year. EPS should shrink at an annualized rate of 8.97% over the next five years, compared to 14.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Republic Services Inc. (RSG) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 8 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
BMO Capital Markets coverage for the Republic Services Inc. (RSG) stock in a research note released on December 07, 2022 offered a Market Perform rating with a price target of $148. Jefferies was of a view on October 25, 2022 that the stock is Buy, while Deutsche Bank gave the stock Buy rating on June 16, 2022, issuing a price target of $147. BofA Securities on their part issued Buy rating on May 13, 2022.
Leave a Reply