Commerzbank Aktiengesellschaft FI Acquires New Shares in Republic Services, Inc. (NYSE:RSG)

Commerzbank Aktiengesellschaft FI bought a new position in shares of Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,560 shares of the business services provider’s stock, valued at approximately $258,000.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Republic Services by 0.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider’s stock worth $948,971,000 after acquiring an additional 44,512 shares during the period. Morgan Stanley increased its holdings in shares of Republic Services by 4.1% in the third quarter. Morgan Stanley now owns 5,054,359 shares of the business services provider’s stock worth $720,297,000 after purchasing an additional 197,654 shares during the period. Nordea Investment Management AB raised its position in shares of Republic Services by 2.9% in the third quarter. Nordea Investment Management AB now owns 3,790,052 shares of the business services provider’s stock worth $547,473,000 after buying an additional 107,499 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Republic Services by 0.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,727,719 shares of the business services provider’s stock valued at $531,237,000 after buying an additional 13,166 shares during the period. Finally, Northern Trust Corp grew its position in Republic Services by 4.8% during the third quarter. Northern Trust Corp now owns 2,376,009 shares of the business services provider’s stock worth $338,605,000 after buying an additional 109,437 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Price Performance

RSG opened at $191.76 on Tuesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Republic Services, Inc. has a 1 year low of $135.33 and a 1 year high of $192.75. The stock’s 50 day simple moving average is $186.29 and its 200 day simple moving average is $169.53. The firm has a market cap of $60.40 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 3.32 and a beta of 0.68.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.28 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 earnings per share. As a group, analysts predict that Republic Services, Inc. will post 6.01 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were issued a dividend of $0.535 per share. The ex-dividend date was Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.12%. Republic Services’s dividend payout ratio is currently 39.12%.

Wall Street Analyst Weigh In

RSG has been the subject of a number of research analyst reports. Scotiabank assumed coverage on Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $211.00 price target for the company. Truist Financial boosted their price target on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Morgan Stanley cut shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective on the stock. in a research report on Friday, March 15th. Royal Bank of Canada started coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 target price on the stock. Finally, Oppenheimer lifted their price target on Republic Services from $182.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.77.

Insider Activity at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction on Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the sale, the chief executive officer now owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is owned by company insiders.

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.