Commerce Bank Acquires New Position in Republic Services, Inc. $RSG

Commerce Bank bought a new position in shares of Republic Services, Inc. (NYSE:RSG) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 76,987 shares of the business services provider’s stock, valued at approximately $16,404,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after acquiring an additional 8,547 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Republic Services by 23.2% in the second quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock worth $4,329,000 after acquiring an additional 3,303 shares during the period. NewEdge Advisors LLC grew its position in shares of Republic Services by 3.6% in the second quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock valued at $7,322,000 after purchasing an additional 1,044 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Republic Services by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock valued at $23,336,000 after purchasing an additional 688 shares during the period. Finally, Ieq Capital LLC raised its stake in shares of Republic Services by 68.4% during the 2nd quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock valued at $2,871,000 after purchasing an additional 4,729 shares during the period. Institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley set a $232.00 target price on Republic Services in a research note on Friday, August 7th. Weiss Ratings raised shares of Republic Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Barclays raised their price objective on shares of Republic Services from $233.00 to $240.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Citigroup boosted their price objective on shares of Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, UBS Group increased their target price on shares of Republic Services from $233.00 to $235.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $245.26.

Republic Services Stock Performance

Shares of RSG opened at $220.45 on Friday. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $237.06. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.12. The company has a market cap of $67.50 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 3.61 and a beta of 0.40. The stock has a 50-day moving average price of $214.96 and a 200-day moving average price of $215.05.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.04. The company had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Republic Services had a net margin of 12.94% and a return on equity of 18.69%. Republic Services’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 earnings per share. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. As a group, equities analysts forecast that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.62. Republic Services’s payout ratio is currently 35.41%.

Insider Buying and Selling at Republic Services

In other news, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the sale, the director directly owned 58 shares of the company’s stock, valued at approximately $12,254.24. The trade was a 96.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. bought 178,844 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average price of $222.51 per share, with a total value of $39,794,578.44. Following the completion of the transaction, the insider directly owned 112,403,625 shares of the company’s stock, valued at $25,010,930,598.75. This represents a 0.16% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 1,599,643 shares of company stock worth $346,519,404. Corporate insiders own 0.12% of the company’s stock.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.