Republic Services, Inc. (NYSE:RSG) Short Interest Down 18.0% in January

Republic Services, Inc. (NYSE:RSG) was the target of a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 2,671,813 shares, a decrease of 18.0% from the December 31st total of 3,257,553 shares. Based on an average trading volume of 1,373,701 shares, the days-to-cover ratio is currently 1.9 days. Approximately 0.9% of the company’s stock are sold short. Approximately 0.9% of the company’s stock are sold short. Based on an average trading volume of 1,373,701 shares, the days-to-cover ratio is currently 1.9 days.

Republic Services Stock Performance

Republic Services stock traded up $4.08 during mid-day trading on Wednesday, reaching $218.03. 1,627,914 shares of the company were exchanged, compared to its average volume of 1,425,090. The firm has a market cap of $67.49 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 3.52 and a beta of 0.54. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58. The firm’s 50-day simple moving average is $213.40 and its two-hundred day simple moving average is $221.36. Republic Services has a twelve month low of $201.42 and a twelve month high of $258.75.

Analysts Set New Price Targets

RSG has been the subject of several research analyst reports. Wells Fargo & Company began coverage on shares of Republic Services in a report on Thursday, November 13th. They issued an “overweight” rating and a $238.00 target price for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Republic Services in a research note on Monday, December 29th. National Bankshares dropped their price objective on Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 7th. The Goldman Sachs Group began coverage on Republic Services in a research report on Monday, November 24th. They issued a “buy” rating and a $255.00 target price for the company. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $240.00 price objective on shares of Republic Services in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $248.82.

Insider Buying and Selling at Republic Services

In other Republic Services news, Director Katharine Weymouth bought 478 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was purchased at an average price of $209.46 per share, for a total transaction of $100,121.88. Following the completion of the purchase, the director directly owned 5,740 shares in the company, valued at $1,202,300.40. This trade represents a 9.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

Institutional Trading of Republic Services

Several hedge funds and other institutional investors have recently made changes to their positions in RSG. Norges Bank acquired a new stake in Republic Services in the second quarter valued at about $690,313,000. Bessemer Group Inc. lifted its holdings in shares of Republic Services by 7,683.2% in the 3rd quarter. Bessemer Group Inc. now owns 739,792 shares of the business services provider’s stock valued at $169,768,000 after buying an additional 730,287 shares during the period. M&G PLC boosted its stake in shares of Republic Services by 113.0% in the second quarter. M&G PLC now owns 1,164,656 shares of the business services provider’s stock valued at $287,670,000 after buying an additional 617,939 shares in the last quarter. SG Americas Securities LLC grew its holdings in Republic Services by 1,337.9% during the fourth quarter. SG Americas Securities LLC now owns 575,637 shares of the business services provider’s stock worth $121,995,000 after acquiring an additional 535,603 shares during the period. Finally, Man Group plc lifted its holdings in Republic Services by 380.1% in the third quarter. Man Group plc now owns 667,603 shares of the business services provider’s stock valued at $153,202,000 after acquiring an additional 528,540 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.