Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG – Free Report) by 5.1% in the 1st quarter, HoldingsChannel reports. The firm owned 522,620 shares of the business services provider’s stock after selling 28,282 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Republic Services were worth $114,464,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. SteelPeak Wealth LLC raised its position in Republic Services by 130.0% during the fourth quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock valued at $2,625,000 after acquiring an additional 7,001 shares in the last quarter. Numerai GP LLC bought a new stake in Republic Services in the third quarter worth approximately $7,934,000. CIBC Bancorp USA Inc. acquired a new position in shares of Republic Services during the 3rd quarter worth $7,079,000. SG Americas Securities LLC increased its stake in shares of Republic Services by 1,337.9% during the 4th quarter. SG Americas Securities LLC now owns 575,637 shares of the business services provider’s stock worth $121,995,000 after purchasing an additional 535,603 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in Republic Services by 18.5% in the fourth quarter. iA Global Asset Management Inc. now owns 64,200 shares of the business services provider’s stock worth $13,606,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.
Republic Services Stock Performance
RSG stock traded up $0.32 during mid-day trading on Friday, reaching $219.00. 773,427 shares of the stock traded hands, compared to its average volume of 1,459,172. The firm has a market capitalization of $67.38 billion, a PE ratio of 31.42, a P/E/G ratio of 3.60 and a beta of 0.40. The business has a 50-day moving average of $209.06 and a two-hundred day moving average of $214.40. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $246.25. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.
Republic Services Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services’s payout ratio is 35.87%.
Insider Buying and Selling
In related news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares in the company, valued at $12,254.24. This represents a 96.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of Republic Services stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the acquisition, the insider owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 987,150 shares of company stock valued at $202,366,682. Corporate insiders own 0.12% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $249.00 target price on shares of Republic Services in a report on Friday, May 8th. UBS Group lowered their price objective on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Royal Bank Of Canada raised their price objective on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Barclays boosted their target price on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, Citigroup increased their price target on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a report on Friday. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $243.89.
View Our Latest Stock Analysis on Republic Services
About Republic Services
Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.
Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.
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