Pinnacle Wealth Management Group Inc. Cuts Stake in Republic Services, Inc. $RSG

Pinnacle Wealth Management Group Inc. lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,447 shares of the business services provider’s stock after selling 230 shares during the period. Pinnacle Wealth Management Group Inc.’s holdings in Republic Services were worth $1,343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Golden State Wealth Management LLC boosted its position in 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 acquiring an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC boosted its position in 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 acquiring an additional 110 shares during the last quarter. TCTC Holdings LLC boosted 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 worth $30,000 after acquiring an additional 66 shares during the last quarter. Key Financial Inc boosted its position in 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 acquiring an additional 99 shares during the last quarter. Finally, Elequin Capital LP acquired a new position in Republic Services during the first quarter worth about $30,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the acquisition, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the transaction, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of recent research reports. Scotiabank set a $250.00 price target on shares of Republic Services in a research report on Friday, October 10th. Oppenheimer decreased their target price on shares of Republic Services from $268.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. UBS Group decreased their target price on shares of Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Citigroup decreased their target price on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Finally, Raymond James Financial set a $260.00 target price on shares of Republic Services and gave the company an “outperform” rating in a report on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $257.10.

Republic Services Stock Performance

Shares of RSG stock opened at $223.16 on Friday. The firm’s 50 day moving average price is $227.75 and its 200-day moving average price is $238.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. The firm has a market cap of $69.68 billion, a P/E ratio of 33.01, a P/E/G ratio of 3.60 and a beta of 0.59.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping 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 firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the business posted $1.61 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, January 2nd. Republic Services’s dividend payout ratio is currently 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.