Republic Services, Inc. $RSG Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 522,620 shares of the business services provider’s stock after selling 28,282 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.17% of Republic Services worth $114,464,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new position in Republic Services during the 4th quarter worth $617,165,000. Capital World Investors boosted its holdings in shares of Republic Services by 27.7% during the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after acquiring an additional 1,899,183 shares during the period. Morgan Stanley grew its position in shares of Republic Services by 38.6% during the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after acquiring an additional 1,490,719 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Republic Services by 18.9% in the 4th quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock worth $1,074,513,000 after acquiring an additional 807,525 shares during the period. Finally, Alyeska Investment Group L.P. lifted its position in Republic Services by 118.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,011,541 shares of the business services provider’s stock valued at $214,376,000 after purchasing an additional 548,926 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

Shares of NYSE RSG traded up $0.32 during mid-day trading on Friday, reaching $219.00. 773,427 shares of the company traded hands, compared to its average volume of 1,459,172. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $246.25. The firm has a market cap of $67.38 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 3.60 and a beta of 0.40. The stock has a fifty day simple moving average of $209.06 and a 200-day simple moving average of $214.40. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67.

Republic Services (NYSE:RSG) last released its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the prior year, the firm posted $1.58 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is currently 35.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup raised their price target on shares of Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research note on Friday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $249.00 price objective on shares of Republic Services in a research report on Friday, May 8th. Wolfe Research initiated coverage on Republic Services in a research report on Friday, March 13th. They issued a “peer perform” rating on the stock. Wells Fargo & Company lifted their target price on Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings cut Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.89.

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the acquisition, the insider directly owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction dated 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 $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by corporate insiders.

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.