Sumitomo Mitsui Trust Group Inc. Increases Stake in Republic Services, Inc. $RSG

Sumitomo Mitsui Trust Group Inc. raised its position in Republic Services, Inc. (NYSE:RSG) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 574,728 shares of the business services provider’s stock after acquiring an additional 11,221 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.18% of Republic Services worth $131,889,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RSG. Financial Consulate Inc. purchased a new stake in shares of Republic Services during the 3rd quarter worth approximately $25,000. Cranbrook Wealth Management LLC increased its position in shares of Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after purchasing an additional 110 shares in the last quarter. NewSquare Capital LLC lifted its holdings in shares of Republic Services by 68.5% in the 2nd quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 50 shares during the last quarter. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Republic Services in the 2nd quarter valued at $33,000. Finally, Atticus Wealth Management LLC acquired a new position in Republic Services in the 2nd quarter valued at about $39,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth purchased 478 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were purchased at an average cost of $209.46 per share, with a total value of $100,121.88. Following the purchase, the director owned 5,740 shares in the company, valued at approximately $1,202,300.40. This represents a 9.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.

Republic Services Stock Down 0.6%

RSG stock opened at $209.59 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.58. The company’s 50 day simple moving average is $212.29 and its 200-day simple moving average is $224.22. The firm has a market capitalization of $64.88 billion, a PE ratio of 31.19, a P/E/G ratio of 3.45 and a beta of 0.55. Republic Services, Inc. has a 12 month low of $201.42 and a 12 month high of $258.75.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.12. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same period in the prior year, the business earned $1.81 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be given a $0.625 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s payout ratio is currently 37.20%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Robert W. Baird set a $240.00 target price on shares of Republic Services in a research note on Friday, October 31st. Stifel Nicolaus dropped their price objective on Republic Services from $257.00 to $251.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Sanford C. Bernstein raised their target price on Republic Services from $205.00 to $220.00 and gave the company a “market perform” rating in a report on Monday, January 5th. Wells Fargo & Company started coverage on shares of Republic Services in a research note on Thursday, November 13th. They issued an “overweight” rating and a $238.00 price objective for the company. Finally, Bank of America reduced their price target on shares of Republic Services from $271.00 to $241.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $250.41.

Republic Services Profile

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.