Sumitomo Mitsui Trust Group Inc. Boosts Stake in Republic Services, Inc. $RSG

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 0.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 563,507 shares of the business services provider’s stock after purchasing an additional 254 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.18% of Republic Services worth $138,966,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. C WorldWide Group Holding A S purchased a new position in shares of Republic Services in the 1st quarter worth $230,013,000. Nuveen LLC acquired a new stake in Republic Services in the 1st quarter valued at $198,685,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Republic Services by 118.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 806,409 shares of the business services provider’s stock valued at $198,869,000 after acquiring an additional 437,190 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Republic Services by 27.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,763,333 shares of the business services provider’s stock valued at $427,009,000 after acquiring an additional 384,695 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Republic Services by 16.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,630,764 shares of the business services provider’s stock valued at $394,906,000 after acquiring an additional 225,835 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RSG. JPMorgan Chase & Co. decreased their price target on Republic Services from $275.00 to $260.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Raymond James Financial set a $260.00 price target on Republic Services and gave the company an “outperform” rating in a report on Monday, October 6th. UBS Group cut their price target on Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Oppenheimer dropped their target price on Republic Services from $268.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Finally, BMO Capital Markets boosted their target price on Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $257.10.

Republic Services Trading Up 0.0%

NYSE RSG opened at $223.16 on Friday. The firm’s 50 day moving average price is $227.75 and its two-hundred day moving average price is $238.61. The stock has a market cap of $69.68 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 3.60 and a beta of 0.59. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.01. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is 36.98%.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the purchase, the insider directly owned 109,816,832 shares of the company’s stock, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the sale, the executive vice president directly owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. The trade was a 64.38% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.11% 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.