Trade Report: Today, Commerce Bank Reduces stake in Republic Services Inc. (RSG)

Today, Commerce Bank Reduces stake in Republic Services Inc. (RSG)

Commerce Bank cut its stake in Republic Services Inc. (NYSE:RSG) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,476 shares of the company’s stock after selling 405 shares during the period. Commerce Bank’s holdings in Republic Services were worth $1,790,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Toronto Dominion Bank raised its stake in Republic Services by 14.0% in the third quarter. Toronto Dominion Bank now owns 45,287 shares of the company’s stock valued at $2,285,000 after buying an additional 5,548 shares during the period. Appleton Partners Inc. MA raised its stake in Republic Services by 7.5% in the third quarter. Appleton Partners Inc. MA now owns 19,405 shares of the company’s stock valued at $979,000 after buying an additional 1,355 shares during the period. KBC Group NV raised its stake in Republic Services by 29.7% in the third quarter. KBC Group NV now owns 147,373 shares of the company’s stock valued at $7,435,000 after buying an additional 33,706 shares during the period. Victory Capital Management Inc. raised its stake in Republic Services by 11.0% in the third quarter. Victory Capital Management Inc. now owns 1,467,057 shares of the company’s stock valued at $74,013,000 after buying an additional 145,075 shares during the period. Finally, Tdam USA Inc. raised its stake in Republic Services by 34.1% in the third quarter. Tdam USA Inc. now owns 21,581 shares of the company’s stock valued at $1,089,000 after buying an additional 5,482 shares during the period. Institutional investors own 60.80% of the company’s stock.

Shares of Republic Services Inc. (NYSE:RSG) traded up 0.41% on Monday, hitting $55.86. 1,236,720 shares of the stock were exchanged. The stock’s 50-day moving average is $52.17 and its 200-day moving average is $50.88. The stock has a market cap of $18.99 billion, a price-to-earnings ratio of 32.48 and a beta of 0.61. Republic Services Inc. has a 1-year low of $41.82 and a 1-year high of $55.93.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.04. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.40 billion. Republic Services had a net margin of 6.40% and a return on equity of 9.62%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 EPS. Analysts forecast that Republic Services Inc. will post $2.20 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 16th. Stockholders of record on Tuesday, January 3rd will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.29%. Republic Services’s dividend payout ratio (DPR) is currently 74.85%.

Several research firms have weighed in on RSG. Zacks Investment Research lowered shares of Republic Services from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st. Goldman Sachs Group Inc. began coverage on shares of Republic Services in a research report on Tuesday, November 1st. They set a “neutral” rating and a $52.00 price objective for the company. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Republic Services in a research report on Thursday, October 27th. Deutsche Bank AG downgraded shares of Republic Services from a “buy” rating to a “hold” rating and increased their price objective for the stock from $108.00 to $112.00 in a research report on Saturday, October 22nd. Finally, Macquarie began coverage on shares of Republic Services in a research report on Thursday, August 25th. They set a “neutral” rating and a $53.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $57.91.

In related news, insider Donald W. Slager sold 164,628 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $52.00, for a total transaction of $8,560,656.00. Following the transaction, the insider now owns 257,367 shares in the company, valued at approximately $13,383,084. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald W. Slager sold 26,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $50.37, for a total transaction of $1,309,620.00. Following the transaction, the insider now owns 234,397 shares in the company, valued at approximately $11,806,576.89. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Republic Services Company Profile

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services in the United States. The Company operates through three segments: East, Central and West. The Company operates in over 40 states and Puerto Rico through approximately 340 collection operations, over 200 transfer stations, over 190 active landfills, approximately 70 recycling centers, approximately 10 treatment, recovery and disposal facilities, and over 10 salt water disposal wells.

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