Republic Services (RSG) Declares $0.50 Dividend

Republic Services said on April 19, 2023 that its board of directors declared a regular quarterly dividend of $0.50 per share ($1.98 annualized). Previously, the company paid $0.50 per share.

Shares must be purchased before the ex-div date of June 30, 2023 to qualify for the dividend. Shareholders of record as of July 3, 2023 will receive the payment on July 14, 2023.

At the current share price of $137.54 / share, the stock's dividend yield is 1.44%. Looking back five years and taking a sample every week, the average dividend yield has been 1.73%, the lowest has been 1.33%, and the highest has been 2.44%. The standard deviation of yields is 0.24 (n=236).

The current dividend yield is 1.19 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.42. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.22%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 1791 funds or institutions reporting positions in Republic Services. This is an increase of 20 owner(s) or 1.13% in the last quarter. Average portfolio weight of all funds dedicated to RSG is 0.32%, a decrease of 12.49%. Total shares owned by institutions decreased in the last three months by 1.45% to 207,619K shares. The put/call ratio of RSG is 1.35, indicating a bearish outlook.

Analyst Price Forecast Suggests 9.32% Upside

As of April 6, 2023, the average one-year price target for Republic Services is $150.36. The forecasts range from a low of $130.42 to a high of $181.65. The average price target represents an increase of 9.32% from its latest reported closing price of $137.54.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Republic Services is $14,707MM, an increase of 8.85%. The projected annual non-GAAP EPS is $5.08.

What are Other Shareholders Doing?

BlackRock ETF Trust - BlackRock U.S. Carbon Transition Readiness ETF holds 12K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 9K shares, representing an increase of 20.96%. The firm increased its portfolio allocation in RSG by 13.18% over the last quarter.

Ensign Peak Advisors holds 1,271K shares representing 0.40% ownership of the company. In it's prior filing, the firm reported owning 1,291K shares, representing a decrease of 1.58%. The firm decreased its portfolio allocation in RSG by 99.92% over the last quarter.

First Commonwealth Financial holds 3K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 4K shares, representing a decrease of 12.63%. The firm decreased its portfolio allocation in RSG by 54.89% over the last quarter.

Headinvest holds 5K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 5K shares, representing a decrease of 8.75%. The firm decreased its portfolio allocation in RSG by 18.57% over the last quarter.

Manchester Capital Management holds 6K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 99.24%. The firm increased its portfolio allocation in RSG by 9,911.32% over the last quarter.

Republic Services Background Information
(This description is provided by the company.)

Republic Services, Inc. is an industry leader in U.S. recycling and non-hazardous solid waste disposal. Through its subsidiaries, Republic's collection companies, transfer stations, recycling centers, landfills and environmental services provide effective solutions to make responsible recycling and waste disposal effortless for its customers across the country. Its 36,000 employees are committed to providing a superior experience while fostering a sustainable Blue Planet® for future generations to enjoy a cleaner, safer and healthier world.

This story originally appeared on Fintel.