Republic Services, Inc. (NYSE:RSG) Short Interest Update

Republic Services, Inc. (NYSE:RSG - Get Free Report) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 2,970,000 shares, an increase of 23.8% from the May 15th total of 2,400,000 shares. Based on an average trading volume of 1,420,000 shares, the short-interest ratio is currently 2.1 days. Currently, 1.5% of the shares of the company are short sold.

Republic Services Stock Performance

NYSE:RSG traded down $0.85 on Wednesday, reaching $248.13. 793,208 shares of the company's stock were exchanged, compared to its average volume of 1,143,469. Republic Services has a 52 week low of $188.82 and a 52 week high of $258.75. The firm has a market cap of $77.54 billion, a price-to-earnings ratio of 37.43, a P/E/G ratio of 3.81 and a beta of 0.63. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a fifty day simple moving average of $248.37 and a 200-day simple moving average of $230.58.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 earnings per share. As a group, sell-side analysts predict that Republic Services will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Wednesday, July 2nd. Republic Services's dividend payout ratio is currently 34.99%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research report on Monday, June 9th. National Bank Financial raised shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Raymond James Financial reaffirmed an "outperform" rating on shares of Republic Services in a report on Wednesday, April 16th. Citigroup lifted their target price on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Morgan Stanley lifted their target price on shares of Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $252.68.

Institutional Investors Weigh In On Republic Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock worth $3,988,000 after acquiring an additional 8,547 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Republic Services during the fourth quarter worth approximately $30,676,000. Principal Securities Inc. raised its stake in shares of Republic Services by 18.6% during the fourth quarter. Principal Securities Inc. now owns 1,730 shares of the business services provider's stock worth $348,000 after acquiring an additional 271 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Republic Services by 30.9% in the fourth quarter. Allworth Financial LP now owns 1,355 shares of the business services provider's stock worth $288,000 after purchasing an additional 320 shares during the last quarter. Finally, Csenge Advisory Group grew its holdings in shares of Republic Services by 3.9% in the fourth quarter. Csenge Advisory Group now owns 4,850 shares of the business services provider's stock worth $976,000 after purchasing an additional 182 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

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.

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