Republic Services, Inc. (NYSE:RSG) Short Interest Down 14.3% in February

Republic Services, Inc. (NYSE:RSG - Get Free Report) saw a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 1,980,000 shares, a drop of 14.3% from the January 31st total of 2,310,000 shares. Based on an average daily trading volume, of 1,020,000 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.0% of the company's shares are sold short.

Republic Services Stock Performance

NYSE:RSG traded down $0.29 during midday trading on Wednesday, reaching $235.66. The stock had a trading volume of 1,367,735 shares, compared to its average volume of 1,051,725. Republic Services has a 1-year low of $180.91 and a 1-year high of $240.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The stock has a market capitalization of $73.59 billion, a P/E ratio of 36.31, a PEG ratio of 3.64 and a beta of 0.74. The firm's fifty day simple moving average is $217.74 and its 200-day simple moving average is $210.45.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period in the previous year, the business posted $1.41 EPS. On average, equities research analysts forecast that Republic Services will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Wednesday, April 2nd. Republic Services's dividend payout ratio is currently 35.75%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RSG shares. Argus set a $260.00 price target on Republic Services in a research note on Tuesday, February 18th. Stifel Nicolaus increased their price objective on shares of Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Jefferies Financial Group boosted their target price on shares of Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Royal Bank of Canada raised Republic Services from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $219.00 to $237.00 in a research note on Monday, January 6th. Finally, Truist Financial reiterated a "buy" rating and issued a $250.00 price target (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Republic Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.88.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares of the company's stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now directly owns 879 shares in the company, valued at $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Republic Services

Several hedge funds have recently made changes to their positions in RSG. Norges Bank acquired a new stake in shares of Republic Services during the 4th quarter worth approximately $553,039,000. Stifel Financial Corp lifted its position in Republic Services by 437.9% in the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider's stock worth $364,449,000 after purchasing an additional 1,477,255 shares during the period. Wellington Management Group LLP increased its holdings in Republic Services by 23.2% in the 3rd 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 buying an additional 1,131,850 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Republic Services in the 4th quarter valued at $184,827,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock worth $626,553,000 after acquiring an additional 509,116 shares during the period. Institutional investors own 57.73% of the company's stock.

About Republic Services

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.