Republic Services, Inc. (NYSE:RSG) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Republic Services, Inc. (NYSE:RSG) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,150 shares of the business services provider’s stock after acquiring an additional 66 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Republic Services were worth $4,147,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Magellan Asset Management Ltd lifted its stake in shares of Republic Services by 1,497,159.0% during the third quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after purchasing an additional 913,267 shares in the last quarter. FMR LLC boosted its holdings in Republic Services by 34.4% in the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock worth $313,865,000 after acquiring an additional 563,761 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Republic Services during the fourth quarter valued at approximately $77,417,000. Envestnet Asset Management Inc. lifted its position in shares of Republic Services by 50.9% during the third quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock worth $128,352,000 after purchasing an additional 303,754 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of Republic Services by 1,383.0% in the third quarter. Panagora Asset Management Inc. now owns 241,098 shares of the business services provider’s stock valued at $34,359,000 after purchasing an additional 224,841 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RSG. Oppenheimer boosted their price objective on shares of Republic Services from $182.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Scotiabank initiated coverage on Republic Services in a research note on Monday, April 8th. They set a “sector perform” rating and a $211.00 price objective for the company. BMO Capital Markets raised their price target on shares of Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group increased their price objective on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, UBS Group downgraded shares of Republic Services from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $175.00 to $195.00 in a research report on Thursday, February 29th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.77.

Republic Services Trading Up 1.1 %

NYSE:RSG opened at $191.76 on Tuesday. Republic Services, Inc. has a 12-month low of $135.33 and a 12-month high of $192.75. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The business has a 50 day simple moving average of $186.29 and a 200 day simple moving average of $169.53. The firm has a market capitalization of $60.40 billion, a P/E ratio of 35.06, a P/E/G ratio of 3.32 and a beta of 0.68.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.28 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Equities research analysts predict that Republic Services, Inc. will post 6.01 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Monday, April 1st. Republic Services’s dividend payout ratio (DPR) is 39.12%.

Insider Activity at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the transaction, the chief executive officer now owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is owned by insiders.

Republic Services Profile

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.