Republic Services, Inc. $RSG Shares Purchased by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its position in Republic Services by 33.3%, acquiring 11,526 additional shares, raising its total holdings to 46,135 shares valued at approximately $11.37 million.
• Republic Services reported a quarterly earnings per share (EPS) of $1.77, slightly exceeding analysts' expectations and marking a 4.6% year-over-year revenue increase to $4.24 billion.
• Institutional investors now control 57.73% of Republic Services' stock, indicating significant confidence in the company's performance, while several analysts have revised their price targets for the stock.

First Citizens Bank & Trust Co. raised its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 33.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 46,135 shares of the business services provider's stock after purchasing an additional 11,526 shares during the period. First Citizens Bank & Trust Co.'s holdings in Republic Services were worth $11,377,000 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. Golden State Wealth Management LLC lifted its position in shares of Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after acquiring an additional 106 shares in the last quarter. Cranbrook Wealth Management LLC lifted its stake in shares of Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider's stock worth $29,000 after purchasing an additional 110 shares during the period. TCTC Holdings LLC boosted its stake in Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after buying an additional 66 shares during the last quarter. Key Financial Inc grew its holdings in Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after buying an additional 99 shares during the period. Finally, Elequin Capital LP purchased a new position in shares of Republic Services during the 1st quarter worth about $30,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Price Performance

Shares of RSG opened at $224.96 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The firm's 50 day moving average price is $228.14 and its 200 day moving average price is $238.69. The firm has a market cap of $70.24 billion, a PE ratio of 33.28, a PEG ratio of 3.57 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.

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

Insider Activity

In other news, EVP Gregg Brummer sold 7,338 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the transaction, the executive vice president owned 4,060 shares of the company's stock, valued at approximately $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the acquisition, the insider directly owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their position. The disclosure for this purchase can be found here. 0.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RSG shares. Oppenheimer reduced their price target on shares of Republic Services from $268.00 to $263.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 8th. Raymond James Financial set a $260.00 target price on Republic Services and gave the company an "outperform" rating in a research note on Monday, October 6th. BMO Capital Markets boosted their target price on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Stifel Nicolaus began coverage on shares of Republic Services in a report on Monday, September 29th. They set a "buy" rating and a $257.00 price objective for the company. Finally, National Bankshares lowered their price target on Republic Services from $270.00 to $241.00 and set a "sector perform" rating for the company in a report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $257.10.

Republic Services Company Profile

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.

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