Republic Services, Inc. (NYSE:RSG) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 3,463,400 shares, a decrease of 23.1% from the July 31st total of 4,502,500 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is currently 3.4 days.
NYSE:RSG traded down $0.78 during mid-day trading on Friday, hitting $85.14. The stock had a trading volume of 1,169,500 shares, compared to its average volume of 1,146,400. The stock has a 50-day simple moving average of $88.86 and a two-hundred day simple moving average of $84.35. The company has a market capitalization of $27.54 billion, a PE ratio of 27.55, a PEG ratio of 2.93 and a beta of 0.50. Republic Services has a twelve month low of $67.48 and a twelve month high of $90.61. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.87.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Republic Services had a net margin of 10.32% and a return on equity of 12.86%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 earnings per share. Sell-side analysts predict that Republic Services will post 3.24 EPS for the current fiscal year.
Several analysts have recently issued reports on RSG shares. Raymond James set a $93.00 price target on shares of Republic Services and gave the stock an “outperform” rating in a research report on Friday, July 26th. Royal Bank of Canada set a $91.00 price target on shares of Republic Services and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. started coverage on shares of Republic Services in a research report on Wednesday, August 7th. They set a “neutral” rating and a $94.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $84.67.
In other news, EVP Catharine D. Ellingsen sold 3,100 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $90.00, for a total transaction of $279,000.00. Following the sale, the executive vice president now owns 14,307 shares of the company’s stock, valued at $1,287,630. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald W. Slager sold 48,891 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $90.00, for a total transaction of $4,400,190.00. Following the sale, the chief executive officer now directly owns 333,846 shares in the company, valued at approximately $30,046,140. The disclosure for this sale can be found here. Insiders have sold 147,117 shares of company stock worth $13,240,530 in the last three months. Corporate insiders own 0.30% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Republic Services by 2.7% in the second quarter. BlackRock Inc. now owns 21,974,898 shares of the business services provider’s stock valued at $1,903,906,000 after acquiring an additional 581,754 shares in the last quarter. Vanguard Group Inc. raised its holdings in Republic Services by 1.1% during the second quarter. Vanguard Group Inc. now owns 18,822,224 shares of the business services provider’s stock worth $1,630,757,000 after purchasing an additional 212,128 shares in the last quarter. Invesco Ltd. raised its holdings in Republic Services by 69.8% during the second quarter. Invesco Ltd. now owns 6,537,731 shares of the business services provider’s stock worth $566,428,000 after purchasing an additional 2,687,709 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Republic Services by 1.8% during the second quarter. Wells Fargo & Company MN now owns 5,350,319 shares of the business services provider’s stock worth $463,551,000 after purchasing an additional 95,240 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Republic Services by 9.3% during the fourth quarter. Geode Capital Management LLC now owns 3,819,787 shares of the business services provider’s stock worth $275,009,000 after purchasing an additional 324,355 shares in the last quarter. 59.64% of the stock is currently owned by hedge funds and other institutional investors.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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