Commerzbank Aktiengesellschaft FI Takes Position in Republic Services, Inc. (NYSE:RSG)

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,560 shares of the business services provider’s stock, valued at approximately $258,000.

Other large investors have also recently added to or reduced their stakes in the company. Magellan Asset Management Ltd grew its position in shares of Republic Services by 1,497,159.0% during the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after buying an additional 913,267 shares during the period. FMR LLC raised its position in shares of Republic Services by 34.4% during the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock valued at $313,865,000 after acquiring an additional 563,761 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Republic Services in the 4th quarter valued at $77,417,000. Envestnet Asset Management Inc. boosted its position in shares of Republic Services by 50.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock worth $128,352,000 after purchasing an additional 303,754 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in shares of Republic Services by 1,383.0% during the third quarter. Panagora Asset Management Inc. now owns 241,098 shares of the business services provider’s stock worth $34,359,000 after purchasing an additional 224,841 shares during the period. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Performance

Shares of RSG opened at $191.76 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. Republic Services, Inc. has a 12 month low of $135.33 and a 12 month high of $192.75. The firm has a fifty day simple moving average of $186.29 and a 200 day simple moving average of $169.53. The stock has a market capitalization 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 quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.28 by $0.13. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the prior year, the firm posted $1.13 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts forecast that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Announces Dividend

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 $0.535 dividend. The ex-dividend date of this dividend was Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.12%. Republic Services’s payout ratio is 39.12%.

Analyst Ratings Changes

A number of brokerages have issued reports on RSG. Citigroup raised their target price on Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. BMO Capital Markets boosted their price objective on shares of Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Truist Financial lifted their price target on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Jefferies Financial Group upped their price objective on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Royal Bank of Canada started coverage on Republic Services in a report on Monday, April 8th. They set a “sector perform” rating and a $198.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Republic Services has an average rating of “Moderate Buy” and a consensus price target of $199.77.

Insider Activity at Republic Services

In other Republic Services 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 transaction of $1,002,608.60. Following the completion of the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is currently 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.