Sumitomo Mitsui Trust Holdings Inc. Cuts Stock Position in Republic Services, Inc. (NYSE:RSG)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in Republic Services, Inc. (NYSE:RSG) by 0.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 622,658 shares of the business services provider’s stock after selling 4,395 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.20% of Republic Services worth $119,202,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC acquired a new stake in Republic Services in the fourth quarter valued at about $30,000. Turtle Creek Wealth Advisors LLC acquired a new position in Republic Services during the fourth quarter worth $34,000. Jones Financial Companies Lllp raised its position in Republic Services by 3,014.3% in the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after acquiring an additional 211 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in Republic Services in the fourth quarter valued at $37,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Republic Services during the 4th quarter worth $41,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Ratings Changes

RSG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Republic Services in a research note on Thursday, May 23rd. They issued a “hold” rating and a $203.00 price objective for the company. Royal Bank of Canada started coverage on Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target on the stock. Scotiabank lifted their price objective on Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 1st. Oppenheimer upped their target price on Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, UBS Group boosted their price objective on shares of Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $201.14.

Republic Services Price Performance

Shares of NYSE:RSG opened at $193.54 on Thursday. The business has a fifty day simple moving average of $188.81 and a 200-day simple moving average of $181.76. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $196.76. The company has a market cap of $60.95 billion, a P/E ratio of 33.95, a P/E/G ratio of 3.24 and a beta of 0.69. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the firm posted $1.24 EPS. The company’s revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Republic Services, Inc. will post 6.05 EPS for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be paid a dividend of $0.535 per share. The ex-dividend date is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a dividend yield of 1.11%. Republic Services’s dividend payout ratio is presently 37.54%.

Insider Transactions at Republic Services

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Katharine Weymouth bought 540 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the purchase, the director now owns 540 shares in the company, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

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.