Lee Danner & Bass Inc. Decreases Stake in Republic Services, Inc. (NYSE:RSG)

Lee Danner & Bass Inc. lowered its position in Republic Services, Inc. (NYSE:RSG) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,200 shares of the business services provider’s stock after selling 610 shares during the quarter. Republic Services makes up about 0.9% of Lee Danner & Bass Inc.’s holdings, making the stock its 25th biggest holding. Lee Danner & Bass Inc.’s holdings in Republic Services were worth $11,910,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Douglass Winthrop Advisors LLC lifted its stake in Republic Services by 3.2% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 2,870 shares of the business services provider’s stock worth $577,000 after acquiring an additional 90 shares during the last quarter. Algebris UK Ltd purchased a new position in Republic Services in the fourth quarter worth approximately $1,514,000. Generali Investments Management Co LLC purchased a new position in Republic Services in the fourth quarter worth approximately $134,000. Xponance Inc. lifted its stake in Republic Services by 8.1% in the fourth quarter. Xponance Inc. now owns 31,504 shares of the business services provider’s stock worth $6,338,000 after acquiring an additional 2,360 shares during the last quarter. Finally, Generali Asset Management SPA SGR acquired a new stake in Republic Services during the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RSG. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. Morgan Stanley raised their price objective on shares of Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Jefferies Financial Group raised their price objective on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, William Blair reissued an “outperform” rating on shares of Republic Services in a report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $236.88.

Insiders Place Their Bets

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $234.79 on Friday. The firm’s fifty day moving average price is $224.37 and its 200 day moving average price is $212.44. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $240.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The firm has a market cap of $73.32 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the firm posted $1.41 EPS. On average, sell-side analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.99%. Republic Services’s payout ratio is currently 35.75%.

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.