Commerce Bank Has $55.90 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Key Points

• Commerce Bank has increased its stake in Republic Services, now holding 230,854 shares worth approximately $55.90 million after an 8,539 share purchase in Q1.
• Analysts have revised their price targets for Republic Services, with Oppenheimer raising it to $268.00 and Robert W. Baird to $245.00, while the stock maintains an average rating of "Moderate Buy."
• Republic Services announced a quarterly dividend increase of 8.6%, raising it from $0.58 to $0.625, with the dividend yield now at 1.1% as of October 15th.

Commerce Bank raised its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 230,854 shares of the business services provider's stock after purchasing an additional 8,539 shares during the period. Commerce Bank owned 0.07% of Republic Services worth $55,904,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Moors & Cabot Inc. raised its stake in shares of Republic Services by 4.2% during the first quarter. Moors & Cabot Inc. now owns 6,765 shares of the business services provider's stock worth $1,638,000 after buying an additional 274 shares during the last quarter. Hoxton Planning & Management LLC acquired a new stake in Republic Services during the 1st quarter worth $665,000. Natixis Advisors LLC raised its position in shares of Republic Services by 29.0% during the 1st quarter. Natixis Advisors LLC now owns 182,905 shares of the business services provider's stock valued at $44,292,000 after acquiring an additional 41,141 shares during the last quarter. NorthRock Partners LLC lifted its stake in shares of Republic Services by 5.5% in the 1st quarter. NorthRock Partners LLC now owns 2,390 shares of the business services provider's stock valued at $579,000 after purchasing an additional 125 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in shares of Republic Services in the 1st quarter worth $1,067,000. Institutional investors own 57.73% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on RSG. Oppenheimer upped their price objective on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Robert W. Baird upped their price target on Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Seaport Res Ptn raised shares of Republic Services to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Raymond James Financial boosted their price target on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $258.89.

Republic Services Trading Down 0.4%

NYSE RSG opened at $230.75 on Friday. Republic Services, Inc. has a 52 week low of $192.64 and a 52 week high of $258.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The stock's 50 day moving average price is $246.25 and its two-hundred day moving average price is $238.22. The stock has a market capitalization of $72.11 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 3.54 and a beta of 0.61.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same period in the previous year, the firm posted $1.61 EPS. The company's revenue for the quarter was up 4.6% on a year-over-year basis. As a group, analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given a $0.625 dividend. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services's payout ratio is 34.99%.

About Republic Services

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.

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