Republic Services, Inc. (NYSE: RSG – Get a rating) saw a significant decline in short-term interest in March. As of March 31, there was short interest totaling 1,730,000 shares, down 25.4% from the March 15 total of 2,320,000 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily volume of 1,390,000 shares, the short interest rate is currently 1.2 days.
Actions of the services of the Republic traded down $0.41 in midday trading on Monday, hitting $132.30. The company’s stock had a trading volume of 761,457 shares, compared to its average trading volume of 1,345,686. Republic Services has a fifty-two-week low of $103.56 and a fifty-two-week high of $145.98. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt ratio of 1.06. The company has a market capitalization of $41.78 billion, a P/E ratio of 32.75, a P/E/G ratio of 2.86 and a beta of 0.81. The company has a 50-day simple moving average of $127.41 and a 200-day simple moving average of $130.38.
Services of the Republic (NYSE: RSG – Get a rating) last released its quarterly earnings data on Thursday, February 10. The business services provider reported earnings per share (EPS) of $1.02 for the quarter, beating the consensus estimate of $1.01 by $0.01. The company posted revenue of $2.95 billion for the quarter, versus analyst estimates of $2.87 billion. Republic Services had a return on equity of 15.04% and a net margin of 11.42%. The company’s quarterly revenue increased by 14.8% compared to the same quarter last year. In the same quarter last year, the company posted earnings per share of $1.00. As a group, stock analysts expect Republic Services to post earnings per share of 4.62 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 14. Shareholders of record on Friday, April 1 received a dividend of $0.46 per share. This represents an annualized dividend of $1.84 and a dividend yield of 1.39%. The ex-dividend date was Thursday, March 31. Republic Services’ payout rate is 45.54%.
Several analysts have recently released reports on the company. Morgan Stanley raised its price target on Republic Services from $139.00 to $149.00 and gave the company an “overweight” rating in a Tuesday, March 8 research note. Deutsche Bank Aktiengesellschaft cut its price target on Republic Services from $142.00 to $139.00 and set a “hold” rating on the stock in a Monday, February 14 research note. Raymond James raised his price target on Republic Services from $137.00 to $140.00 and gave the company an “outperform” rating in a Monday, Jan. 10 research note. StockNews.com alleged coverage of the services of the Republic in a research note of Thursday, March 31. They issued a “Strong Buy” rating on the stock. Finally, JPMorgan Chase & Co. assumed coverage from Republic Services in a Tuesday, March 1, research note. They issued a “neutral” rating on the title. Four equity research analysts gave the stock a hold rating, four gave the stock a buy rating and two gave the stock a strong buy rating. According to data from MarketBeat.com, Republic Services currently has an average rating of “Buy” and a consensus target price of $134.57.
In other news, major shareholder Cascade Investment, LLC purchased 88,588 shares of the company in a transaction on Thursday, February 24. The shares were purchased at an average cost of $116.00 per share, for a total transaction of $10,276,208.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Insiders acquired 710,420 shares of the company worth $83,099,992 in the past 90 days. 0.06% of the shares are held by insiders.
Several hedge funds have recently changed their RSG holdings. BlackRock Inc. increased its holdings of Republic Services shares by 2.3% during the fourth quarter. BlackRock Inc. now owns 20,657,599 shares of the business services provider worth $2,880,704,000 after purchasing an additional 466,966 shares in the last quarter. Nordea Investment Management AB increased its equity stake in Republic Services by 110.4% during the third quarter. Nordea Investment Management AB now owns 10,563,910 shares of the business services provider worth $1,289,853,000 after buying an additional 5,543,526 shares in the last quarter. State Street Corp increased its holdings of Republic Services shares by 0.4% in the fourth quarter. State Street Corp now owns 10,143,176 shares of the business services provider worth $1,419,062,000 after buying an additional 42,050 shares in the last quarter. Geode Capital Management LLC increased its holdings of Republic Services shares by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 4,459,637 shares of the business services provider worth $620,473,000 after purchasing an additional 64,679 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Republic Services stock during the fourth quarter worth approximately $499,246,000. 58.80% of the shares are currently held by institutional investors.
Republic Services Company Profile (Get a rating)
Republic Services, Inc., together with its subsidiaries, provides 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 materials for transportation to transfer stations, landfills or recycling processing centers; supply of recycling and waste containers; and rental of compactors.
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