Republic Services, Inc. (RSG) Stake Lessened by Commerce Bank

Commerce Bank cut its holdings in Republic Services, Inc. (NYSE:RSG) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,563 shares of the business services provider’s stock after selling 332 shares during the period. Commerce Bank’s holdings in Republic Services were worth $2,537,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its holdings in Republic Services by 18.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,811 shares of the business services provider’s stock valued at $628,000 after purchasing an additional 1,220 shares during the period. Keybank National Association OH grew its holdings in Republic Services by 1.2% during the first quarter. Keybank National Association OH now owns 890,524 shares of the business services provider’s stock valued at $71,581,000 after purchasing an additional 10,381 shares during the period. TD Asset Management Inc. grew its holdings in Republic Services by 3.6% during the first quarter. TD Asset Management Inc. now owns 1,373,522 shares of the business services provider’s stock valued at $110,404,000 after purchasing an additional 47,143 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Republic Services by 7.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,151,352 shares of the business services provider’s stock valued at $92,546,000 after purchasing an additional 80,144 shares during the period. Finally, Knuff & Co LLC grew its holdings in Republic Services by 966.7% during the first quarter. Knuff & Co LLC now owns 800 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 725 shares during the period. 60.09% of the stock is owned by institutional investors.

NYSE:RSG opened at $84.56 on Friday. The firm has a market cap of $27.19 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 2.77 and a beta of 0.57. Republic Services, Inc. has a 1 year low of $66.83 and a 1 year high of $85.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.86.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, April 25th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.50 billion. Republic Services had a return on equity of 12.72% and a net margin of 10.25%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. On average, analysts predict that Republic Services, Inc. will post 3.24 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.50 annualized dividend and a dividend yield of 1.77%. Republic Services’s dividend payout ratio is currently 48.54%.

In related news, CEO Donald W. Slager sold 69,966 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.66, for a total value of $5,783,389.56. Following the sale, the chief executive officer now owns 287,610 shares in the company, valued at $23,773,842.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Ark Jon Vander sold 19,278 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $82.33, for a total value of $1,587,157.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,575 shares of company stock worth $12,472,125. Company insiders own 0.30% of the company’s stock.

Several brokerages have weighed in on RSG. Zacks Investment Research lowered Republic Services from a “buy” rating to a “hold” rating in a report on Monday, February 11th. Bank of America reissued a “neutral” rating and set a $85.00 price objective (up from $79.00) on shares of Republic Services in a report on Friday, April 26th. UBS Group increased their price objective on Republic Services from $79.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada began coverage on Republic Services in a research report on Wednesday, May 1st. They set a “sector perform” rating and a $87.00 target price on the stock. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $81.97.

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About Republic Services

Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.

Further Reading: Balanced Fund

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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