Ashton Thomas Private Wealth LLC Boosts Stake in Republic Services, Inc. (NYSE:RSG)

Ashton Thomas Private Wealth LLC raised its position in shares of Republic Services, Inc. (NYSE:RSG) by 46.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,292 shares of the business services provider’s stock after acquiring an additional 2,942 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Republic Services were worth $1,869,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new stake in Republic Services during the third quarter valued at about $25,000. Arcadia Investment Management Corp MI grew its position in Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 88 shares during the period. R Squared Ltd purchased a new stake in Republic Services during the fourth quarter valued at about $32,000. Truvestments Capital LLC purchased a new stake in Republic Services during the third quarter valued at about $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Republic Services during the third quarter valued at about $39,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Trading Up 1.2 %

Shares of NYSE RSG opened at $234.28 on Friday. The stock’s 50 day moving average price is $218.91 and its two-hundred day moving average price is $210.84. Republic Services, Inc. has a 52-week low of $180.91 and a 52-week high of $240.95. The stock has a market capitalization of $73.16 billion, a P/E ratio of 36.10, a PEG ratio of 3.64 and a beta of 0.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. On average, analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 0.99%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is currently 35.75%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. William Blair reaffirmed an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. The Goldman Sachs Group upped their target price on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price for the company in a research report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.88.

Insider Buying and Selling at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

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.