Republic Services, Inc. (NYSE:RSG) Short Interest Down 16.3% in July

Republic Services, Inc. (NYSE:RSGGet Rating) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 1,490,000 shares, a decline of 16.3% from the June 30th total of 1,780,000 shares. Based on an average daily volume of 1,250,000 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.7% of the shares of the company are short sold.

Insider Buying and Selling

In related news, COO Timothy E. Stuart sold 15,000 shares of Republic Services stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the completion of the sale, the chief operating officer now owns 19,675 shares of the company’s stock, valued at $2,659,863.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Timothy E. Stuart sold 15,000 shares of Republic Services stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the completion of the sale, the chief operating officer now owns 19,675 shares of the company’s stock, valued at $2,659,863.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian A. Goebel sold 347 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $135.01, for a total value of $46,848.47. Following the completion of the transaction, the chief accounting officer now directly owns 6,186 shares of the company’s stock, valued at $835,171.86. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Republic Services

Large investors have recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group acquired a new position in Republic Services during the first quarter worth $25,000. Godsey & Gibb Associates acquired a new position in Republic Services during the fourth quarter worth $28,000. Glassman Wealth Services boosted its stake in Republic Services by 116.8% during the first quarter. Glassman Wealth Services now owns 206 shares of the business services provider’s stock worth $27,000 after buying an additional 111 shares during the last quarter. Masso Torrence Wealth Management Inc. acquired a new position in Republic Services during the fourth quarter worth $32,000. Finally, FinTrust Capital Advisors LLC boosted its stake in Republic Services by 123.6% during the first quarter. FinTrust Capital Advisors LLC now owns 237 shares of the business services provider’s stock worth $32,000 after buying an additional 131 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Up 0.8 %

Shares of RSG opened at $141.54 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.75 and a current ratio of 0.75. Republic Services has a one year low of $113.57 and a one year high of $145.98. The stock has a market capitalization of $44.71 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 2.81 and a beta of 0.72. The stock has a 50 day moving average price of $130.67 and a 200 day moving average price of $129.46.

Republic Services (NYSE:RSGGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the business earned $0.93 earnings per share. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. Equities research analysts forecast that Republic Services will post 4.67 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 1.40%. This is a boost from Republic Services’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, September 30th. Republic Services’s payout ratio is presently 43.60%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RSG shares. Morgan Stanley boosted their price target on Republic Services from $142.00 to $147.00 and gave the company an “overweight” rating in a report on Wednesday, July 20th. Bank of America raised Republic Services from a “neutral” rating to a “buy” rating and boosted their price target for the company from $140.00 to $150.00 in a report on Friday, May 13th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and set a $147.00 price objective for the company in a research report on Thursday, June 16th. Oppenheimer set a $139.00 price objective on Republic Services in a research report on Tuesday, July 19th. Finally, Raymond James boosted their price objective on Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a research report on Friday, April 22nd. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $142.33.

About Republic Services

(Get Rating)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste, and other environmental solutions. Its collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.

Further Reading

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