Republic Services, Inc. $RSG Shares Purchased by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR increased its Republic Services stake by 748.7% in the third quarter, adding 581,888 shares to hold 659,605 shares valued at about $138.9 million.
• Republic Services reported quarterly EPS of $1.94, slightly above estimates, and revenue of $4.56 billion, ahead of forecasts and up 8.2% year over year.
• Analyst sentiment was moderately positive: Argus and JPMorgan upgraded the stock, while the consensus rating was “Moderate Buy” with a $252.10 price target. The company also announced a quarterly dividend of $0.67 per share.

Eurizon Capital SGR S.p.A. grew its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 748.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 659,605 shares of the business services provider's stock after purchasing an additional 581,888 shares during the quarter. Eurizon Capital SGR S.p.A. owned about 0.22% of Republic Services worth $138,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in RSG. BlackRock Inc. acquired a new position in Republic Services in the second quarter valued at approximately $3,798,092,000. State Street Corp boosted its holdings in shares of Republic Services by 1.6% during the 2nd quarter. State Street Corp now owns 9,953,507 shares of the business services provider's stock worth $2,120,893,000 after buying an additional 160,051 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Republic Services during the 2nd quarter worth approximately $682,573,000. Pictet Asset Management Holding SA grew its position in shares of Republic Services by 14.0% during the 3rd quarter. Pictet Asset Management Holding SA now owns 2,814,825 shares of the business services provider's stock worth $590,761,000 after buying an additional 345,719 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Republic Services by 68.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider's stock valued at $497,828,000 after acquiring an additional 913,249 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Trading Up 1.4%

NYSE:RSG opened at $252.95 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.75 and a quick ratio of 0.75. Republic Services, Inc. has a one year low of $196.41 and a one year high of $254.39. The company has a market cap of $77.06 billion, a PE ratio of 34.39, a PEG ratio of 4.14 and a beta of 0.32. The firm has a 50-day moving average of $227.08 and a 200-day moving average of $218.34.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The business services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.01. The business had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.42 billion. Republic Services had a net margin of 12.93% and a return on equity of 18.56%. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.90 EPS. As a group, equities research analysts expect that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, January 4th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Monday, January 4th. This represents a $2.68 annualized dividend and a dividend yield of 1.1%. Republic Services's dividend payout ratio is 37.07%.

More Republic Services News

Here's some of the latest news about RSG:

• Positive Sentiment: Argus upgraded RSG to Buy from Hold and set a $275 price target, pointing to earnings growth. Republic Services upgraded by Argus on earnings growth
• Positive Sentiment: JPMorgan raised its rating to Overweight from Neutral and increased its price target to $295 from $265, signaling greater confidence in RSG’s potential. JPMorgan upgrades Republic Services
• Neutral Sentiment: Republic Services shared consumer recycling tips ahead of America Recycles Day. The outreach supports its environmental-services profile but does not indicate a material financial development. Republic Services shares recycling tips

Insider Buying and Selling at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. bought 409,500 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The shares were bought at an average price of $221.49 per share, with a total value of $90,700,155.00. Following the completion of the transaction, the insider directly owned 116,166,330 shares in the company, valued at approximately $25,729,680,431.70. This represents a 0.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 5,240,588 shares of company stock valued at $1,161,649,826 in the last 90 days. 0.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RSG shares. Weiss Ratings upgraded shares of Republic Services from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday. Deutsche Bank cut their target price on shares of Republic Services from $270.00 to $258.00 in a research note on Friday, October 9th. Argus upgraded shares of Republic Services from a "hold" rating to a "buy" rating and set a $275.00 price target for the company in a report on Thursday. JPMorgan Chase & Co. raised shares of Republic Services from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $265.00 to $295.00 in a research note on Wednesday. Finally, Barclays upped their price objective on shares of Republic Services from $240.00 to $254.00 and gave the company an "equal weight" rating in a report on Monday, November 2nd. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and a consensus price target of $252.10.

About Republic Services

Republic Services, Inc. provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials. The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.

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