Sumitomo Mitsui Trust Holdings Inc. Sells 35,815 Shares of Republic Services, Inc. (NYSE:RSG)

by · The Cerbat Gem

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Republic Services, Inc. (NYSE:RSG – Free Report) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 635,057 shares of the business services provider’s stock after selling 35,815 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.20% of Republic Services worth $90,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of RSG. Bangor Savings Bank grew its holdings in Republic Services by 210.5% during the second quarter. Bangor Savings Bank now owns 177 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the period. FinTrust Capital Advisors LLC boosted its holdings in shares of Republic Services by 56.3% in the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after acquiring an additional 71 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Republic Services in the first quarter worth $34,000. Fred Alger Management LLC boosted its holdings in shares of Republic Services by 118.1% in the fourth quarter. Fred Alger Management LLC now owns 301 shares of the business services provider’s stock worth $39,000 after acquiring an additional 163 shares during the period. Finally, DHJJ Financial Advisors Ltd. bought a new position in shares of Republic Services in the third quarter worth $41,000. 57.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of analyst reports. Stifel Nicolaus raised their price target on Republic Services from $175.00 to $187.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. Oppenheimer raised their price target on Republic Services from $172.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday. Royal Bank of Canada raised their price target on Republic Services from $163.00 to $166.00 and gave the stock a “sector perform” rating in a report on Monday, October 2nd. Wolfe Research began coverage on Republic Services in a research report on Tuesday, October 17th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company began coverage on Republic Services in a research report on Monday, November 27th. They issued an “overweight” rating and a $180.00 price objective on the stock. Six investment 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.54.

View Our Latest Analysis on Republic Services

Republic Services Trading Up 1.3 %

NYSE RSG opened at $166.14 on Friday. The stock’s 50-day simple moving average is $161.63 and its two-hundred day simple moving average is $152.76. Republic Services, Inc. has a twelve month low of $120.58 and a twelve month high of $167.17. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $52.27 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 2.81 and a beta of 0.67.

Republic Services (NYSE:RSG – Get Free Report) last released its quarterly earnings results on Thursday, October 26th. The business services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Republic Services had a return on equity of 16.81% and a net margin of 11.17%. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter last year, the business posted $1.34 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Research analysts forecast that Republic Services, Inc. will post 5.47 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a $0.535 dividend. The ex-dividend date is Friday, December 29th. This represents a $2.14 annualized dividend and a dividend yield of 1.29%. Republic Services’s dividend payout ratio is currently 41.39%.

Republic Services declared that its board has approved a stock buyback program on Thursday, October 26th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Republic Services Company Profile

(Free Report)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.

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