Commerce Bank Purchases 8,096 Shares of Republic Services, Inc. (NYSE:RSG)

Commerce Bank lifted its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 221,565 shares of the business services provider's stock after purchasing an additional 8,096 shares during the period. Commerce Bank owned about 0.07% of Republic Services worth $44,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC grew its position in Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider's stock worth $28,000 after buying an additional 109 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Republic Services in the first quarter valued at approximately $29,000. Webster Bank N. A. bought a new position in Republic Services in the third quarter valued at $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Republic Services during the 2nd quarter worth about $36,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Republic Services in the 3rd quarter worth about $39,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares of the company's stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Republic Services from $220.00 to $244.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. StockNews.com downgraded Republic Services from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 1st. Robert W. Baird raised their price objective on Republic Services from $208.00 to $210.00 and gave the company a "neutral" rating in a research report on Thursday, July 25th. Morgan Stanley lifted their price target on Republic Services from $208.00 to $217.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on Republic Services from $211.00 to $219.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.71.

Republic Services Trading Up 0.4 %

Republic Services stock traded up $0.83 during mid-day trading on Wednesday, hitting $211.74. 324,473 shares of the company's stock were exchanged, compared to its average volume of 1,117,208. The firm has a market capitalization of $66.31 billion, a P/E ratio of 33.75, a PEG ratio of 3.18 and a beta of 0.70. The company's 50 day simple moving average is $204.01 and its 200-day simple moving average is $198.44. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a fifty-two week low of $158.68 and a fifty-two week high of $216.18.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to analysts' expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.54 EPS. On average, equities analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.10%. Republic Services's payout ratio is 37.12%.

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.