Sumitomo Mitsui Trust Group Inc. Acquires 254 Shares of Republic Services, Inc. $RSG

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 0.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 563,507 shares of the business services provider’s stock after acquiring an additional 254 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Republic Services were worth $138,966,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock worth $3,988,000 after buying an additional 8,547 shares during the last quarter. GAMMA Investing LLC grew its stake in Republic Services by 61.6% during the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider’s stock worth $2,226,000 after buying an additional 3,503 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Republic Services by 11.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,912 shares of the business services provider’s stock worth $5,306,000 after buying an additional 2,270 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Republic Services by 17.0% during the first quarter. Oppenheimer & Co. Inc. now owns 11,254 shares of the business services provider’s stock worth $2,725,000 after purchasing an additional 1,637 shares in the last quarter. Finally, Spire Wealth Management lifted its position in shares of Republic Services by 20.0% during the first quarter. Spire Wealth Management now owns 7,746 shares of the business services provider’s stock worth $1,876,000 after purchasing an additional 1,289 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RSG shares. Stifel Nicolaus initiated coverage on shares of Republic Services in a research report on Monday, September 29th. They set a “buy” rating and a $257.00 target price on the stock. BMO Capital Markets increased their price objective on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. National Bankshares cut their price objective on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 7th. Raymond James Financial set a $260.00 price objective on shares of Republic Services and gave the company an “outperform” rating in a report on Monday, October 6th. Finally, Oppenheimer cut their price objective on shares of Republic Services from $268.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and an average price target of $257.10.

Insider Buying and Selling at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total value of $1,716,651.72. Following the completion of the transaction, the executive vice president owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the transaction, the insider owned 109,816,832 shares of the company’s stock, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. The disclosure for this purchase can be found here. 0.11% of the stock is owned by corporate insiders.

Republic Services Stock Up 0.0%

Shares of NYSE:RSG opened at $223.16 on Friday. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $69.68 billion, a PE ratio of 33.01, a PEG ratio of 3.60 and a beta of 0.59. The company has a 50 day moving average price of $227.75 and a two-hundred day moving average price of $238.61.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the firm earned $1.61 earnings per share. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The business 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 dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. Republic Services’s dividend payout ratio is currently 36.98%.

Republic Services Company 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.