Gulf International Bank UK Ltd Sells 775 Shares of Republic Services, Inc. (NYSE:RSG)

Gulf International Bank UK Ltd reduced its holdings in Republic Services, Inc. (NYSE:RSG) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,510 shares of the business services provider’s stock after selling 775 shares during the period. Gulf International Bank UK Ltd’s holdings in Republic Services were worth $3,402,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. YHB Investment Advisors Inc. acquired a new stake in shares of Republic Services in the first quarter valued at about $29,000. EntryPoint Capital LLC bought a new stake in shares of Republic Services during the 1st quarter worth approximately $29,000. Bogart Wealth LLC acquired a new stake in shares of Republic Services in the 4th quarter valued at approximately $30,000. Turtle Creek Wealth Advisors LLC acquired a new position in Republic Services during the fourth quarter worth $34,000. Finally, Jones Financial Companies Lllp raised its position in Republic Services by 3,014.3% during the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after acquiring an additional 211 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Katharine Weymouth acquired 540 shares of the stock in a transaction on Tuesday, June 4th. The stock was purchased at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now owns 540 shares of the company’s stock, valued at approximately $100,040.40. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Price Performance

RSG traded up $4.94 during trading on Wednesday, reaching $201.64. The stock had a trading volume of 2,852,651 shares, compared to its average volume of 1,234,950. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The business has a 50-day moving average of $193.55 and a 200-day moving average of $187.60. Republic Services, Inc. has a one year low of $140.23 and a one year high of $206.54. The stock has a market cap of $63.33 billion, a PE ratio of 35.38, a PEG ratio of 3.22 and a beta of 0.69.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.15%. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is currently 37.54%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. BMO Capital Markets lifted their target price on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. CIBC increased their price objective on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. TD Cowen lifted their target price on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Republic Services in a report on Thursday, May 23rd. They issued a “hold” rating and a $203.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $211.00.

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.