Sumitomo Mitsui Trust Holdings Inc. Has $97.25 Million Stake in Republic Services, Inc. (NYSE:RSG)

Posted by on Apr 13th, 2023

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Republic Services, Inc. (NYSE:RSG – Get Rating) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 753,915 shares of the business services provider’s stock after selling 10,174 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Republic Services worth $97,247,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Schechter Investment Advisors LLC grew its position in Republic Services by 3.5% during the 3rd quarter. Schechter Investment Advisors LLC now owns 2,293 shares of the business services provider’s stock worth $311,000 after acquiring an additional 77 shares during the last quarter. WMS Partners LLC grew its position in Republic Services by 1.7% during the 3rd quarter. WMS Partners LLC now owns 4,499 shares of the business services provider’s stock worth $612,000 after acquiring an additional 77 shares during the last quarter. Macquarie Group Ltd. grew its position in Republic Services by 1.2% during the 2nd quarter. Macquarie Group Ltd. now owns 6,656 shares of the business services provider’s stock worth $871,000 after acquiring an additional 81 shares during the last quarter. First Commonwealth Financial Corp PA lifted its holdings in Republic Services by 2.4% during the 1st quarter. First Commonwealth Financial Corp PA now owns 3,605 shares of the business services provider’s stock worth $478,000 after buying an additional 85 shares during the period. Finally, Synovus Financial Corp lifted its holdings in Republic Services by 0.6% during the 3rd quarter. Synovus Financial Corp now owns 14,947 shares of the business services provider’s stock worth $2,032,000 after buying an additional 91 shares during the period. 57.14% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Up 1.4 %

RSG stock opened at $136.98 on Thursday. The stock’s 50 day simple moving average is $130.07 and its 200 day simple moving average is $131.09. Republic Services, Inc. has a fifty-two week low of $119.72 and a fifty-two week high of $149.17. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $43.32 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 2.86 and a beta of 0.66.

Republic Services (NYSE:RSG – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Republic Services had a return on equity of 16.72% and a net margin of 11.01%. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the prior year, the business earned $1.02 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, research analysts expect that Republic Services, Inc. will post 5.18 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Monday, April 3rd will be paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, March 31st. Republic Services’s dividend payout ratio (DPR) is currently 42.22%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RSG shares. Morgan Stanley cut their target price on Republic Services from $150.00 to $144.00 and set an “overweight” rating on the stock in a report on Wednesday, January 4th. Royal Bank of Canada lifted their target price on Republic Services from $131.00 to $134.00 and gave the stock a “sector perform” rating in a report on Thursday, February 16th. Deutsche Bank Aktiengesellschaft cut their target price on Republic Services from $150.00 to $140.00 in a report on Monday, January 30th. StockNews.com assumed coverage on Republic Services in a report on Thursday, March 16th. They set a “buy” rating on the stock. Finally, BMO Capital Markets dropped their price objective on Republic Services from $148.00 to $138.00 and set a “market perform” rating on the stock in a research note on Thursday, February 16th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $145.80.

Insiders Place Their Bets

In related news, Director Jennifer M. Kirk acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was purchased at an average cost of $129.60 per share, with a total value of $129,600.00. Following the acquisition, the director now owns 4,449 shares of the company’s stock, valued at approximately $576,590.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other Republic Services news, Director Katharine Weymouth sold 4,304 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $133.56, for a total transaction of $574,842.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer M. Kirk acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, February 21st. The shares were bought at an average cost of $129.60 per share, with a total value of $129,600.00. Following the completion of the acquisition, the director now directly owns 4,449 shares in the company, valued at approximately $576,590.40. The disclosure for this purchase can be found here. Corporate insiders own 0.06% of the company’s stock.

Republic Services Profile

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Republic Services, Inc engages in the provision of environmental services. It operates through the following segments: Group 1, Group 2, and Group 3. The Group 1 segment focuses on the business of recycling and solid waste in geographic areas located in western United States. The Group 2 segment includes the recycling and solid waste business in geographic areas located in the southeastern and mid-western and the eastern seaboard of the United States.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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