JPMorgan Chase & Co. increased its stake in Republic Services, Inc. (NYSE:RSG) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,809,989 shares of the business services provider’s stock after buying an additional 388,147 shares during the period. JPMorgan Chase & Co. owned about 2.02% of Republic Services worth $434,002,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of Republic Services by 0.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,821 shares of the business services provider’s stock valued at $307,000 after buying an additional 16 shares in the last quarter. MUFG Americas Holdings Corp increased its stake in shares of Republic Services by 0.4% in the second quarter. MUFG Americas Holdings Corp now owns 4,971 shares of the business services provider’s stock valued at $317,000 after buying an additional 20 shares in the last quarter. Blue Chip Partners Inc. increased its stake in shares of Republic Services by 0.5% in the second quarter. Blue Chip Partners Inc. now owns 4,763 shares of the business services provider’s stock valued at $304,000 after buying an additional 25 shares in the last quarter. Pinnacle Financial Partners Inc. increased its stake in shares of Republic Services by 1.9% in the second quarter. Pinnacle Financial Partners Inc. now owns 3,293 shares of the business services provider’s stock valued at $210,000 after buying an additional 60 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Republic Services by 0.3% in the first quarter. Blair William & Co. IL now owns 26,078 shares of the business services provider’s stock valued at $1,617,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 60.58% of the company’s stock.

Shares of Republic Services, Inc. (NYSE RSG) opened at 65.19 on Friday. Republic Services, Inc. has a 52-week low of $49.18 and a 52-week high of $65.54. The company has a 50-day moving average of $64.59 and a 200 day moving average of $63.38. The stock has a market cap of $21.95 billion, a P/E ratio of 33.47 and a beta of 0.59.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. Equities research analysts forecast that Republic Services, Inc. will post $2.39 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.12%. This is a boost from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 29th. Republic Services’s dividend payout ratio (DPR) is presently 65.64%.

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Several analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub downgraded shares of Republic Services from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. BMO Capital Markets boosted their price objective on shares of Republic Services from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Stifel Nicolaus restated a “buy” rating and set a $73.00 price objective on shares of Republic Services in a research report on Wednesday, July 19th. Finally, KeyCorp restated a “hold” rating on shares of Republic Services in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $71.88.

About Republic Services

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.

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

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