Republic Services, Inc. $RSG Position Decreased by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its Republic Services position by 4.3% in the third quarter, selling 20,651 shares and retaining 464,516 shares valued at approximately $97.5 million. Institutional investors and hedge funds collectively own 57.73% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $249.32. Recent targets ranged from $219 to $281.
• Republic Services exceeded quarterly expectations with adjusted EPS of $1.94 and revenue of $4.56 billion, while revenue rose 8.2% year over year. The company also declared a quarterly dividend of $0.67 per share, representing a 1.1% annualized yield.

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 464,516 shares of the business services provider's stock after selling 20,651 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.15% of Republic Services worth $97,488,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Republic Services in the second quarter worth $3,798,092,000. Bank of America Corp DE purchased a new stake in shares of Republic Services during the 2nd quarter valued at $682,573,000. Legal & General Group Plc acquired a new stake in shares of Republic Services in the 2nd quarter worth $245,506,000. Deutsche Bank AG acquired a new stake in shares of Republic Services in the 2nd quarter worth $236,628,000. Finally, Bank of New York Mellon Corp purchased a new position in Republic Services during the 2nd quarter worth $220,527,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on RSG shares. Morgan Stanley reduced their target price on Republic Services from $232.00 to $219.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 13th. Royal Bank Of Canada raised their price target on Republic Services from $272.00 to $277.00 and gave the stock an "outperform" rating in a report on Friday. Weiss Ratings upgraded Republic Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Deutsche Bank Aktiengesellschaft dropped their price target on Republic Services from $270.00 to $258.00 in a research note on Friday, October 9th. Finally, Citigroup upped their price objective on shares of Republic Services from $259.00 to $281.00 and gave the company a "buy" rating in a report on Monday. Twelve investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $249.32.

Insider Buying and Selling

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 324,810 shares of the company's stock in a transaction dated Friday, September 11th. The shares were acquired at an average cost of $222.89 per share, with a total value of $72,396,900.90. Following the acquisition, the insider directly owned 117,058,444 shares of the company's stock, valued at approximately $26,091,156,583.16. The trade was a 0.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have purchased 6,254,462 shares of company stock worth $1,380,321,958. Insiders own 0.12% of the company's stock.

Republic Services Stock Up 0.8%

Shares of RSG stock opened at $245.90 on Tuesday. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $249.37. The firm has a market capitalization of $75.30 billion, a PE ratio of 34.01, a P/E/G ratio of 3.75 and a beta of 0.39. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.64 and a current ratio of 0.64. The stock's 50-day simple moving average is $222.98 and its 200-day simple moving average is $216.99.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Thursday, October 29th. The business services provider reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.01. The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.42 billion. Republic Services had a return on equity of 18.69% and a net margin of 12.94%. The company's revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 earnings per share. Equities analysts expect that Republic Services, Inc. will post 7.26 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, January 4th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, January 4th. Republic Services's payout ratio is presently 37.07%.

Republic Services Profile

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.

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