Gulf International Bank UK Ltd Sells 3,631 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Republic Services, Inc. by 21.9%, selling 3,631 shares, leaving it with 12,927 shares valued at approximately $3.13 million.
• Analysts have set a consensus price target of $262.17 for Republic Services, with ratings ranging from "hold" to "buy," highlighting strong investor interest and varied projections.
• Republic Services announced an increase in its quarterly dividend to $0.625, which will be paid on October 15th, representing a yield of 1.1% and a positive change from its previous dividend payment.

Gulf International Bank UK Ltd lowered its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 21.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,927 shares of the business services provider's stock after selling 3,631 shares during the quarter. Gulf International Bank UK Ltd's holdings in Republic Services were worth $3,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of RSG. Golden State Wealth Management LLC boosted its holdings in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after buying an additional 106 shares during the period. Capital Management Associates Inc bought a new stake in shares of Republic Services during the 1st quarter worth $314,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Republic Services by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock worth $136,397,000 after buying an additional 4,110 shares during the period. Sowell Financial Services LLC bought a new stake in shares of Republic Services during the 1st quarter worth $260,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Republic Services by 61.6% during the 1st quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock worth $2,226,000 after buying an additional 3,503 shares during the period. Institutional investors own 57.73% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group set a $260.00 price objective on shares of Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Truist Financial upped their price objective on shares of Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $266.00 target price on shares of Republic Services in a research report on Friday, April 25th. Finally, Citigroup boosted their target price on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and an average target price of $262.17.

Republic Services Stock Performance

Shares of NYSE:RSG opened at $232.70 on Thursday. The business's fifty day moving average price is $242.43 and its two-hundred day moving average price is $239.58. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. The stock has a market capitalization of $72.65 billion, a price-to-earnings ratio of 34.42, a price-to-earnings-growth ratio of 3.64 and a beta of 0.60. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The firm had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same period in the prior year, the business posted $1.61 earnings per share. The business's revenue was up 4.6% compared to the same quarter last year. As a group, analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) is currently 34.32%.

Republic Services 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.

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.