Sumitomo Mitsui Trust Holdings Inc. Buys 14,589 Shares of Republic Services Inc. (RSG)
Sumitomo Mitsui Trust Holdings Inc. raised its position in Republic Services Inc. (NYSE:RSG) by 1.7% during the second quarter, Holdings Channel reports. The firm owned 896,795 shares of the company’s stock after buying an additional 14,589 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Republic Services were worth $46,015,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Reynolds Capital Management LLC purchased a new stake in shares of Republic Services during the first quarter valued at $210,000. Private Bank & Trust Co. purchased a new stake in shares of Republic Services during the second quarter valued at $213,000. Fox Run Management L.L.C. purchased a new stake in shares of Republic Services during the second quarter valued at $216,000. ING Groep NV purchased a new stake in shares of Republic Services during the first quarter valued at $261,000. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of Republic Services during the first quarter valued at $264,000. Institutional investors own 61.02% of the company’s stock.
Republic Services Inc. (NYSE:RSG) traded up 0.66% on Monday, reaching $50.15. The company had a trading volume of 846,389 shares. The stock has a market capitalization of $17.19 billion, a price-to-earnings ratio of 24.10 and a beta of 0.54. The firm has a 50 day moving average price of $50.36 and a 200-day moving average price of $49.60. Republic Services Inc. has a 12 month low of $41.82 and a 12 month high of $52.92.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, July 28th. The company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The company earned $2.35 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Republic Services had a return on equity of 9.21% and a net margin of 7.85%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. Analysts forecast that Republic Services Inc. will post $2.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Monday, October 3rd were paid a $0.32 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Thursday, September 29th. Republic Services’s dividend payout ratio (DPR) is 61.84%.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Wednesday, September 28th. Macquarie assumed coverage on Republic Services in a report on Thursday, August 25th. They issued a “neutral” rating and a $53.00 price objective for the company. Barclays PLC upped their price objective on Republic Services from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th. Finally, Imperial Capital upped their price objective on Republic Services from $52.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Republic Services has a consensus rating of “Buy” and an average price target of $51.90.
In other news, insider Donald W. Slager sold 26,000 shares of Republic Services stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $50.37, for a total value of $1,309,620.00. Following the completion of the sale, the insider now directly owns 234,397 shares of the company’s stock, valued at approximately $11,806,576.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by insiders.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services in the United States. The Company operates through three segments: East, Central and West. The Company operates in over 40 states and Puerto Rico through approximately 340 collection operations, over 200 transfer stations, over 190 active landfills, approximately 70 recycling centers, approximately 10 treatment, recovery and disposal facilities, and over 10 salt water disposal wells.
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