Republic Services, Inc. (NYSE:RSG) Stake Boosted by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 24.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,724 shares of the business services provider’s stock after acquiring an additional 534 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Republic Services were worth $549,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Republic Services by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,899 shares of the business services provider’s stock valued at $254,875,000 after acquiring an additional 29,374 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Republic Services by 8.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,497 shares of the business services provider’s stock valued at $2,715,000 after acquiring an additional 1,022 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of Republic Services by 3.9% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,579 shares of the business services provider’s stock valued at $349,000 after acquiring an additional 59 shares in the last quarter. LGT Fund Management Co Ltd. lifted its stake in shares of Republic Services by 22.9% in the 4th quarter. LGT Fund Management Co Ltd. now owns 5,833 shares of the business services provider’s stock valued at $1,173,000 after purchasing an additional 1,085 shares during the last quarter. Finally, LGT Group Foundation lifted its stake in shares of Republic Services by 2.5% in the 4th quarter. LGT Group Foundation now owns 28,771 shares of the business services provider’s stock valued at $5,788,000 after purchasing an additional 705 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares of the company’s stock, valued at $189,222.33. This trade represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Republic Services Stock Down 1.7 %

NYSE RSG opened at $235.55 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The firm has a 50-day simple moving average of $217.11 and a 200 day simple moving average of $210.28. Republic Services, Inc. has a twelve month low of $180.91 and a twelve month high of $240.95. The stock has a market cap of $73.56 billion, a PE ratio of 36.29, a PEG ratio of 3.64 and a beta of 0.74.

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

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s payout ratio is presently 35.75%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RSG shares. Stifel Nicolaus lifted their price objective on shares of Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $211.00 to $238.00 in a research note on Friday, December 6th. CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective for the company in a research note on Tuesday. Truist Financial reaffirmed a “buy” rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Finally, UBS Group lifted their price objective on shares of Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $236.88.

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.