Eurizon Capital SGR S.p.A. Takes Position in Republic Services, Inc. $RSG

Key Points

• Eurizon Capital SGR opened a new position in Republic Services during the fourth quarter, buying 64,247 shares worth about $13.6 million.
• Other institutional investors also added to or initiated stakes, and hedge funds and institutions now own 57.73% of Republic Services' stock.
• Republic Services reported Q1 earnings of $1.70 per share, topping estimates, and also announced a quarterly dividend of $0.625 per share, or $2.50 annualized.

Eurizon Capital SGR S.p.A. acquired a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 64,247 shares of the business services provider's stock, valued at approximately $13,626,000.

Several other large investors have also made changes to their positions in the business. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in shares of Republic Services in the fourth quarter valued at about $200,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its position in shares of Republic Services by 14.0% in the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 207,272 shares of the business services provider's stock valued at $43,927,000 after acquiring an additional 25,505 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Republic Services by 10.1% in the fourth quarter. Jupiter Asset Management Ltd. now owns 126,088 shares of the business services provider's stock valued at $26,722,000 after acquiring an additional 11,563 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Republic Services by 16.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,373 shares of the business services provider's stock worth $291,000 after buying an additional 198 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its position in shares of Republic Services by 39.1% in the fourth quarter. King Luther Capital Management Corp now owns 75,020 shares of the business services provider's stock worth $15,899,000 after buying an additional 21,095 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the firm's stock in a transaction on Monday, May 18th. The shares were acquired at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the transaction, the insider directly owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 987,150 shares of company stock worth $202,366,682 in the last quarter. Corporate insiders own 0.12% of the company's stock.

Republic Services Trading Down 0.1%

Shares of RSG stock opened at $200.32 on Monday. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $258.75. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The stock's 50 day simple moving average is $211.11 and its two-hundred day simple moving average is $214.88. The company has a market cap of $61.63 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 3.30 and a beta of 0.41.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The company's quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts predict that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given 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 yield of 1.2%. Republic Services's dividend payout ratio is 36.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank Of Canada boosted their target price on Republic Services from $265.00 to $267.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Robert W. Baird decreased their target price on Republic Services from $242.00 to $240.00 and set a "neutral" rating on the stock in a research report on Thursday, April 16th. Morgan Stanley decreased their target price on Republic Services from $230.00 to $225.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 18th. UBS Group decreased their target price on Republic Services from $240.00 to $223.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating and issued a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, Republic Services has a consensus rating of "Hold" and an average price target of $245.15.

Republic Services Company Profile

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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