Ashton Thomas Private Wealth LLC Cuts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Ashton Thomas Private Wealth LLC lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,206 shares of the business services provider’s stock after selling 116 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Republic Services were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Maryland State Retirement & Pension System raised its holdings in Republic Services by 2.8% in the first quarter. Maryland State Retirement & Pension System now owns 16,210 shares of the business services provider’s stock valued at $3,043,000 after acquiring an additional 439 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in Republic Services by 8.9% in the first quarter. First Trust Direct Indexing L.P. now owns 8,202 shares of the business services provider’s stock valued at $1,570,000 after acquiring an additional 668 shares in the last quarter. Norden Group LLC raised its holdings in Republic Services by 2,181.7% in the first quarter. Norden Group LLC now owns 77,120 shares of the business services provider’s stock valued at $14,764,000 after acquiring an additional 73,740 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Republic Services by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 22,190 shares of the business services provider’s stock valued at $4,248,000 after acquiring an additional 100 shares in the last quarter. Finally, Silverlake Wealth Management LLC purchased a new stake in Republic Services during the 1st quarter worth about $211,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Katharine Weymouth purchased 540 shares of Republic Services stock in a transaction dated Tuesday, June 4th. The stock was bought at an average cost of $185.26 per share, with a total value of $100,040.40. Following the purchase, the director now owns 540 shares in the company, valued at approximately $100,040.40. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group lifted their price target on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Republic Services in a research note on Thursday, May 23rd. They issued a “hold” rating and a $203.00 price objective for the company. Jefferies Financial Group raised their target price on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a report on Monday, March 18th. Morgan Stanley downgraded shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target for the company. in a report on Friday, March 15th. Finally, Royal Bank of Canada started coverage on Republic Services in a research report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target for the company. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $201.14.

Republic Services Stock Performance

Shares of NYSE:RSG traded down $0.84 during trading on Friday, reaching $192.70. 267,116 shares of the company’s stock traded hands, compared to its average volume of 1,192,003. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.53 and a quick ratio of 0.53. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $196.76. The company has a 50 day moving average of $188.84 and a 200-day moving average of $181.92. The stock has a market capitalization of $60.69 billion, a P/E ratio of 33.95, a price-to-earnings-growth ratio of 3.25 and a beta of 0.69.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the company earned $1.24 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts expect that Republic Services, Inc. will post 6.05 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.11%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s payout ratio is currently 37.54%.

Republic Services 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.