First Citizens Bank & Trust Co. reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 10.1% during the second quarter, Holdings Channel reports. The institutional investor owned 36,699 shares of the business services provider’s stock after selling 4,144 shares during the period. First Citizens Bank & Trust Co.’s holdings in Republic Services were worth $2,339,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. BlackRock Inc. raised its stake in Republic Services by 2,800.0% in the first quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock valued at $1,197,070,000 after buying an additional 18,401,448 shares in the last quarter. Vanguard Group Inc. raised its stake in Republic Services by 6.1% in the first quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock valued at $1,180,588,000 after buying an additional 1,086,931 shares in the last quarter. State Street Corp raised its stake in Republic Services by 4.5% in the first quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock valued at $731,866,000 after buying an additional 501,491 shares in the last quarter. American Century Companies Inc. raised its stake in Republic Services by 4.2% in the first quarter. American Century Companies Inc. now owns 8,915,076 shares of the business services provider’s stock valued at $559,956,000 after buying an additional 356,424 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Republic Services by 3.2% in the first quarter. JPMorgan Chase & Co. now owns 6,421,842 shares of the business services provider’s stock valued at $403,356,000 after buying an additional 198,679 shares in the last quarter. Institutional investors and hedge funds own 61.48% of the company’s stock.

Republic Services, Inc. (NYSE RSG) traded up 0.91% during mid-day trading on Tuesday, reaching $65.10. 403,479 shares of the company’s stock traded hands. Republic Services, Inc. has a 52 week low of $49.18 and a 52 week high of $65.34. The stock has a market capitalization of $22.01 billion, a PE ratio of 34.63 and a beta of 0.59. The stock’s 50 day moving average is $64.24 and its 200-day moving average is $61.84.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, April 27th. The business services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Republic Services had a net margin of 6.75% and a return on equity of 10.18%. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the company earned $0.48 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts anticipate that Republic Services, Inc. will post $2.39 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 3rd were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.98%. Republic Services’s payout ratio is 68.45%.

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RSG has been the subject of several recent research reports. Barclays PLC restated a “hold” rating and issued a $59.00 price target on shares of Republic Services in a report on Friday, April 28th. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Friday, July 14th. Stifel Nicolaus reiterated a “buy” rating and set a $73.00 price objective on shares of Republic Services in a research note on Wednesday, July 19th. Wedbush boosted their price objective on shares of Republic Services from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, March 30th. Finally, BMO Capital Markets initiated coverage on shares of Republic Services in a research note on Thursday, June 29th. They set an “outperform” rating and a $71.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $67.90.

Republic Services Company Profile

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.

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

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