Ashton Thomas Private Wealth LLC Trims Stock Position in Republic Services, Inc. $RSG

Ashton Thomas Private Wealth LLC lessened its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 3.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 8,775 shares of the business services provider’s stock after selling 286 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Republic Services were worth $2,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RSG. Golden State Wealth Management LLC raised its holdings in shares of Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC raised its holdings in shares of Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Key Financial Inc raised its holdings in shares of Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock worth $30,000 after purchasing an additional 99 shares during the last quarter. TCTC Holdings LLC grew its position in Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after buying an additional 66 shares during the period. Finally, Elequin Capital LP acquired a new stake in Republic Services during the first quarter valued at $30,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on RSG shares. Stifel Nicolaus started coverage on shares of Republic Services in a research report on Monday, September 29th. They set a “buy” rating and a $257.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Republic Services from $275.00 to $260.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Scotiabank set a $250.00 price target on shares of Republic Services in a research report on Friday, October 10th. Weiss Ratings restated a “buy (b)” rating on shares of Republic Services in a research report on Wednesday, October 8th. Finally, BMO Capital Markets raised their price target on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $257.10.

Insider Transactions at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the transaction, the executive vice president directly owned 4,060 shares in the company, valued at approximately $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the transaction, the insider directly owned 109,816,832 shares of the company’s stock, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.11% of the company’s stock.

Republic Services Stock Down 1.5%

Shares of NYSE RSG opened at $217.78 on Wednesday. The company’s 50-day simple moving average is $227.18 and its 200-day simple moving average is $238.41. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. The firm has a market cap of $67.99 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter last year, the business earned $1.61 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be given a dividend of $0.625 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. Republic Services’s payout ratio is presently 36.98%.

Republic Services Company Profile

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.