Gulf International Bank UK Ltd trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG) by 30.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,753 shares of the business services provider’s stock after selling 22,361 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Republic Services were worth $3,658,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. IMS Capital Management acquired a new position in shares of Republic Services during the 3rd quarter worth about $80,000. First Hawaiian Bank acquired a new position in shares of Republic Services during the 3rd quarter worth about $119,000. Qube Research & Technologies Ltd boosted its position in shares of Republic Services by 57.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,936 shares of the business services provider’s stock worth $132,000 after acquiring an additional 704 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Republic Services by 16.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,933 shares of the business services provider’s stock worth $140,000 after acquiring an additional 271 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new position in shares of Republic Services during the 3rd quarter worth about $186,000. 59.23% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on RSG shares. Oppenheimer reaffirmed a “hold” rating on shares of Republic Services in a research report on Friday, October 26th. Zacks Investment Research reaffirmed a “hold” rating and set a $80.00 price objective on shares of Republic Services in a research report on Monday, December 31st. Goldman Sachs Group raised Republic Services to a “hold” rating and set a $79.00 price objective for the company in a research report on Tuesday, December 4th. Bank of America cut Republic Services from a “buy” rating to a “neutral” rating and set a $74.00 price objective for the company. in a research report on Wednesday, October 24th. Finally, UBS Group cut Republic Services from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $83.00 to $77.00 in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $74.88.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, October 25th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Republic Services had a return on equity of 12.11% and a net margin of 13.90%. As a group, research analysts forecast that Republic Services, Inc. will post 3.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.01%. Republic Services’s dividend payout ratio (DPR) is presently 61.73%.
In related news, CAO Brian A. Goebel sold 3,000 shares of the company’s stock in a transaction dated Thursday, January 10th. The stock was sold at an average price of $72.97, for a total value of $218,910.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer M. Kirk bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was purchased at an average cost of $72.35 per share, with a total value of $108,525.00. Following the completion of the transaction, the director now owns 1,500 shares in the company, valued at $108,525. The disclosure for this purchase can be found here. 0.30% of the stock is owned by corporate insiders.
About Republic Services
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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