Sumitomo Mitsui Trust Group Inc. Raises Holdings in Republic Services, Inc. (NYSE:RSG)

Sumitomo Mitsui Trust Group Inc. boosted its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 566,042 shares of the business services provider's stock after purchasing an additional 11,610 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.18% of Republic Services worth $113,684,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. GSA Capital Partners LLP grew its position in Republic Services by 80.7% during the 3rd quarter. GSA Capital Partners LLP now owns 4,103 shares of the business services provider's stock valued at $824,000 after purchasing an additional 1,833 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Republic Services by 24.4% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 3,619 shares of the business services provider's stock valued at $727,000 after purchasing an additional 711 shares during the last quarter. Jupiter Wealth Management LLC raised its stake in shares of Republic Services by 112.7% in the third quarter. Jupiter Wealth Management LLC now owns 3,775 shares of the business services provider's stock worth $758,000 after purchasing an additional 2,000 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Republic Services by 16.5% during the third quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider's stock valued at $77,000 after purchasing an additional 54 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in Republic Services in the 3rd quarter worth about $39,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

RSG stock traded down $4.94 during mid-day trading on Thursday, hitting $209.74. The company had a trading volume of 342,759 shares, compared to its average volume of 1,120,729. The company has a market capitalization of $65.68 billion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 3.25 and a beta of 0.70. The company has a 50-day moving average price of $203.66 and a 200 day moving average price of $197.79. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 12-month low of $156.83 and a 12-month high of $216.18.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.54 EPS. On average, research analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.11%. Republic Services's payout ratio is currently 37.12%.

Analyst Ratings Changes

A number of brokerages recently weighed in on RSG. Robert W. Baird increased their price objective on shares of Republic Services from $208.00 to $210.00 and gave the company a "neutral" rating in a research report on Thursday, July 25th. CIBC lifted their price objective on Republic Services from $208.00 to $217.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their target price on Republic Services from $211.00 to $219.00 and gave the company a "sector perform" rating in a report on Wednesday, October 30th. William Blair started coverage on Republic Services in a research note on Thursday, October 3rd. They set an "outperform" rating for the company. Finally, Scotiabank started coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a "sector perform" rating and a $224.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and a consensus target price of $215.71.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $3,549,832.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company's stock.

About Republic Services

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.