Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Republic Services Inc. shares valued at $2,009,080 were sold by Vander Ark Jon on Aug 08. At $142.49 per share, Vander Ark Jon sold 14,100 shares. The insider’s holdings dropped to 59,619 shares worth approximately $8.54 million following the completion of this transaction.
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Also, Stuart Timothy E sold 15,000 shares, netting a total of over 2,027,805 in proceeds. Following the sale of shares at $135.19 each, the insider now holds 19,675 shares.
Before that, GOEBEL BRIAN A had sold 347 shares from its account. In a trade valued at $46,848, the CAO traded Republic Services Inc. shares for $135.01 each. Upon closing the transaction, the insider’s holdings decreased to 347 shares, worth approximately $0.89 million.
As published in a research note from Deutsche Bank on June 16, 2022, Republic Services Inc. [RSG] has been rated up from a Hold to a Buy and the price target has been revised to $147. This represents a 2.54% premium over Wednesday’s closing price. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid May. Earlier on July 13, 2021, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for RSG stock which previously was a “an Equal-weight”.
Analyzing RSG’s Price Performance
On Wednesday, Republic Services Inc. [NYSE: RSG] plunged -0.75% to $143.26. The stock’s lowest price that day was $143.24, but it reached a high of $146.51 in the same session. During the last five days, there has been a drop of approximately -1.85%. Over the course of the year, Republic Services Inc. shares have jumped approximately 2.73%. Shares of the company reached a 52-week high of $149.17 on 09/12/22 and a 52-week low of $113.57 on 02/24/22. A 50-day SMA is recorded $141.09, while a 200-day SMA reached $132.90. Nevertheless, trading volume fell to 1.32 million shares from 0.97 million shares the previous day.
Support And Resistance Levels for Republic Services Inc. (RSG)
According to the 24-hour chart, there is a support level at 142.16, which, if violated, would cause prices to drop to 141.07. In the upper region, resistance lies at 145.43. The next price resistance is at 147.61. RSI (Relative Strength Index) is 46.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.99, which suggests the price will decrease in the coming days. Percent R is at 78.70%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Republic Services Inc. subject to short interest?
Stocks of Republic Services Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by 50000.0 shares to 1.49 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.54 million shares. A decline of -3.36% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.36 of the overall float, the days-to-cover ratio (short ratio) decline to 1.36.
Which companies own the most shares of Republic Services Inc. (RSG)?
According to The Vanguard Group, Inc. filings, the company currently owns 17,146,193 shares, which is about 5.43% of the total RSG shares outstanding. The investor’s shares have appreciated by 178,530 from its previous 13-F filing of 16967663.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $2,011,707,476. SSgA Funds Management, Inc. reduced a -3.07% interest valued at $1.34 billion while Pictet Asset Management SA purchased a 178,861 stake. A total of 1,657,265 shares of Republic Services Inc. were bought by T. Rowe Price Associates, Inc. during the quarter, and 66,108 were bought by Nordea Investment Management AB. In its current portfolio, Geode Capital Management LLC holds 4,376,231 shares valued at $624.58 million.
In terms of Republic Services Inc. share price expectations, FactSet research, analysts set an average price target of $155.87 in the next 12 months, up nearly 8.08% from the previous closing price of $144.34. Analysts anticipate Republic Services Inc. stock to reach $175.00 by 2022, with the lowest price target being $140.00. In spite of this, 19 analysts ranked Republic Services Inc. stock as an Overweight at the end of 2022. On April 07, 2021, Goldman assigned a price target of “a Buy” to the stock and initiated coverage with a $117.