Republic Services, Inc. (NYSE:RSG) Short Interest Update

Republic Services, Inc. (NYSE:RSG) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 2,120,000 shares, a drop of 17.2% from the November 15th total of 2,560,000 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 955,500 shares, the short-interest ratio is presently 2.2 days.

Insiders Place Their Bets

In other news, 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 directly owns 879 shares in the company, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Institutional Trading of Republic Services

Several large investors have recently modified their holdings of RSG. Stifel Financial Corp boosted its stake in shares of Republic Services by 437.9% during the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after buying an additional 1,477,255 shares during the last quarter. Wellington Management Group LLP raised its holdings in Republic Services by 23.2% in the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after acquiring an additional 1,131,850 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Republic Services by 83,671.9% during the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after acquiring an additional 538,010 shares during the last quarter. National Bank of Canada FI grew its holdings in Republic Services by 544.7% during the 3rd quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock worth $109,580,000 after acquiring an additional 460,989 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Republic Services by 169.3% in the 3rd quarter. Two Sigma Advisers LP now owns 554,500 shares of the business services provider’s stock worth $111,366,000 after purchasing an additional 348,600 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of NYSE RSG opened at $208.97 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. Republic Services has a 1-year low of $160.65 and a 1-year high of $220.58. The company has a market capitalization of $65.44 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 3.21 and a beta of 0.71. The business has a 50-day moving average of $208.53 and a 200-day moving average of $201.84.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the business earned $1.54 EPS. Republic Services’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that Republic Services will post 6.25 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.11%. Republic Services’s dividend payout ratio is currently 37.12%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RSG shares. William Blair assumed coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and increased their price objective for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. CIBC boosted their target price on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Truist Financial increased their price target 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. Finally, Royal Bank of Canada boosted their price objective on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $220.06.

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.