Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $6.89 Million in Republic Services, Inc. $RSG

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. disclosed a new fourth-quarter position in Republic Services, buying 32,529 shares worth about $6.89 million.
• Republic Services recently beat first-quarter expectations, posting EPS of $1.70 versus $1.64 expected and revenue of $4.11 billion versus $4.10 billion estimated.
• Insider buying has been notable, with Cascade Investment purchasing hundreds of thousands of shares recently; analysts remain mixed, with a Hold consensus and an average price target of $245.15.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Republic Services, Inc. (NYSE:RSG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 32,529 shares of the business services provider's stock, valued at approximately $6,894,000.

Other hedge funds have also recently modified their holdings of the company. Wealth Watch Advisors INC bought a new stake in Republic Services in the third quarter worth $26,000. Laurel Wealth Advisors LLC bought a new stake in Republic Services in the fourth quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC increased its position in Republic Services by 121.8% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider's stock worth $28,000 after purchasing an additional 67 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Republic Services in the third quarter worth $29,000. Finally, Sound Income Strategies LLC bought a new stake in Republic Services in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services News Summary

Here are the key news stories impacting Republic Services this week:

• Positive Sentiment: Cascade Investment made several large open-market purchases of Republic Services shares over the past few trading sessions, including 307,505 shares, 119,795 shares, and 60,700 shares, signaling strong insider confidence in the company’s outlook.
• Positive Sentiment: The company recently beat first-quarter earnings and revenue estimates, with EPS of $1.70 versus $1.64 expected and revenue of $4.11 billion versus $4.10 billion projected, supporting investor sentiment.
• Neutral Sentiment: Republic Services also declared a quarterly dividend of $0.625 per share, which reinforces its income profile but is not likely the main driver of the stock today.
• Neutral Sentiment: Wall Street remains mixed, with a consensus Hold rating and an average price target of $245.15, suggesting analysts see limited near-term upside but no major deterioration in the business.

Insiders Place Their Bets

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the acquisition, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. This represents a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have purchased 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RSG shares. Wolfe Research started coverage on shares of Republic Services in a research report on Friday, March 13th. They issued a "peer perform" rating on the stock. Argus cut shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Monday, May 11th. Wells Fargo & Company boosted their price target on shares of Republic Services from $238.00 to $252.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 18th. BMO Capital Markets cut their price target on shares of Republic Services from $251.00 to $248.00 and set an "outperform" rating on the stock in a report on Wednesday, February 18th. Finally, Morgan Stanley cut their price target on shares of Republic Services from $230.00 to $225.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 18th. Eleven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $245.15.

Republic Services Stock Up 0.2%

NYSE:RSG opened at $214.94 on Wednesday. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $258.75. The company has a 50-day moving average of $214.00 and a 200 day moving average of $214.86. The firm has a market cap of $66.13 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 3.53 and a beta of 0.43. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67.

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

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be paid a $0.625 dividend. The ex-dividend date of this dividend 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%.

Republic Services 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.