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

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 627,053 shares of the business services provider’s stock after selling 8,004 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.20% of Republic Services worth $103,407,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Lecap Asset Management Ltd. purchased a new position in shares of Republic Services during the fourth quarter valued at approximately $705,000. Louisiana State Employees Retirement System purchased a new stake in shares of Republic Services in the fourth quarter valued at approximately $2,045,000. YCG LLC boosted its holdings in shares of Republic Services by 11.7% in the fourth quarter. YCG LLC now owns 202,677 shares of the business services provider’s stock valued at $33,423,000 after purchasing an additional 21,234 shares during the period. Genesee Capital Advisors LLC boosted its holdings in shares of Republic Services by 4.6% in the fourth quarter. Genesee Capital Advisors LLC now owns 3,636 shares of the business services provider’s stock valued at $600,000 after purchasing an additional 159 shares during the period. Finally, Cornerstone Wealth Group LLC boosted its holdings in shares of Republic Services by 1.4% in the fourth quarter. Cornerstone Wealth Group LLC now owns 17,585 shares of the business services provider’s stock valued at $2,900,000 after purchasing an additional 238 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group boosted their price target on Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday. Jefferies Financial Group boosted their price target on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a report on Monday, March 18th. UBS Group lowered Republic Services from a “buy” rating to a “neutral” rating and upped their target price for the stock from $175.00 to $195.00 in a report on Thursday, February 29th. Finally, Stifel Nicolaus upped their target price on Republic Services from $175.00 to $187.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.77.

Republic Services Stock Performance

Shares of RSG stock opened at $187.47 on Wednesday. The business’s fifty day simple moving average is $185.00 and its 200-day simple moving average is $168.20. The company has a market cap of $59.05 billion, a PE ratio of 34.27, a PEG ratio of 3.27 and a beta of 0.68. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. Republic Services, Inc. has a 12-month low of $135.33 and a 12-month high of $192.57.

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

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were given a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, April 1st. Republic Services’s payout ratio is 39.12%.

Insider Activity at Republic Services

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the sale, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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.