Republic Services, Inc. (NYSE:RSG) Short Interest Up 22.9% in September

Republic Services, Inc. (NYSE: RSG – Get a rating) was the target of significant growth in short interest during the month of September. As of September 15, there was short interest totaling 2,040,000 shares, up 22.9% from the August 31 total of 1,660,000 shares. Currently, 1.0% of the stock’s shares are sold short. Based on an average daily trading volume of 1,010,000 shares, the day-to-cover ratio is currently 2.0 days.

Insider Activity at Republic Services

In related news, CEO Ark Jon Vander sold 14,100 shares of Republic Services in a trade dated Monday, August 8. The stock was sold at an average price of $142.49, for a total value of $2,009,109.00. Following completion of the transaction, the CEO now directly owns 59,619 shares of the company, valued at $8,495,111.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. 0.06% of the shares are currently held by insiders of the company.

Hedge funds weigh on the services of the Republic

Several institutional investors and hedge funds have recently changed their RSG holdings. LPL Financial LLC increased its position in Republic Services shares by 12.1% in the fourth quarter. LPL Financial LLC now owns 108,679 shares of the business services provider valued at $15,155,000 after purchasing an additional 11,702 shares during the period. Bridgewater Associates LP increased its stake in Republic Services by 1,553.5% in the fourth quarter. Bridgewater Associates LP now owns 29,433 shares of the business services provider valued at $4,104,000 after acquiring an additional 27,653 shares last quarter. Eaton Vance Management increased its stake in Republic Services by 10.6% in the fourth quarter. Eaton Vance Management now owns 23,425 shares of the business services provider valued at $2,435,000 after acquiring 2,244 additional shares last quarter. Commerce Bank increased its stake in Republic Services by 1.4% in the 4th quarter. Commerce Bank now owns 29,892 shares of the business services provider valued at $4,168,000 after acquiring 409 additional shares last quarter. Finally, Guggenheim Capital LLC increased its stake in Republic Services by 2.8% in the 4th quarter. Guggenheim Capital LLC now owns 76,834 shares of the business services provider valued at $10,715,000 after acquiring 2,081 additional shares last quarter. 58.01% of the shares are currently held by institutional investors and hedge funds.

Republican services trade down 0.7%

Shares of Republic Services were down $0.91 in Friday trading, hitting $136.04. 1,619,174 shares of the company were traded, against an average volume of 1,102,092. The company has a market capitalization of $42.98 billion, a P/E ratio of 31.20, a price/growth ratio of earnings of 2.54 and a beta of 0.70. Republic Services has a 1-year minimum of $113.57 and a 1-year maximum of $149.17. The company’s fifty-day moving average price is $142.79 and its 200-day moving average price is $135.16. The company has a debt ratio of 1.26, a current ratio of 0.73 and a quick ratio of 0.73.

Republic Services (NYSE: RSG – Get a rating) last reported results on Thursday, August 4. The business services provider reported earnings per share (EPS) of $1.32 for the quarter, beating the consensus estimate of $1.18 by $0.14. The company posted revenue of $3.41 billion in the quarter, versus analyst estimates of $3.30 billion. Republic Services had a return on equity of 16.18% and a net margin of 11.31%. The company’s revenue for the quarter increased 21.4% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $1.09. As a group, sell-side analysts expect Republic Services to post earnings per share of 4.78 for the current fiscal year.

The services of the Republic increase their dividends

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14. Investors of record on Monday, October 3 will receive a dividend of $0.495. The ex-date of this dividend is Friday, September 30. This is a positive change from Republic Services’ previous quarterly dividend of $0.46. This represents an annualized dividend of $1.98 and a dividend yield of 1.46%. Republic Services’ payout ratio is currently 42.20%.

Wall Street analysts predict growth

A number of research analysts have recently published reports on RSG stocks. Morgan Stanley raised its price target on Republic Services from $157.00 to $162.00 and gave the company an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised its price target on Republic Services from $147.00 to $158.00 in a Tuesday, August 9 report. StockNews.com upgraded Republic Services from a “strong buy” rating to a “buy” rating in a report on Monday, August 15. Finally, Oppenheimer raised its price target on Republic Services from $139.00 to $154.00 and gave the stock an “outperform” rating in a Monday, August 8 report. Two equity research analysts gave the stock a hold rating and six gave the stock a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.17.

Republic Services Company Profile

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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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