Republic Services, Inc. (NYSE:RSG) Shares Sold by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. reduced its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,814 shares of the business services provider's stock after selling 2,386 shares during the quarter. Republic Services makes up 1.1% of Lee Danner & Bass Inc.'s portfolio, making the stock its 22nd biggest holding. Lee Danner & Bass Inc.'s holdings in Republic Services were worth $13,758,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sonata Capital Group Inc. acquired a new position in Republic Services in the first quarter valued at $225,000. Wayfinding Financial LLC acquired a new position in Republic Services in the first quarter valued at $124,000. Capital Investment Advisory Services LLC increased its stake in Republic Services by 22.0% in the first quarter. Capital Investment Advisory Services LLC now owns 1,850 shares of the business services provider's stock valued at $448,000 after purchasing an additional 333 shares during the last quarter. Brookstone Capital Management increased its stake in Republic Services by 165.4% during the first quarter. Brookstone Capital Management now owns 40,947 shares of the business services provider's stock worth $9,916,000 after acquiring an additional 25,517 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its stake in Republic Services by 6.3% during the first quarter. IFM Investors Pty Ltd now owns 41,117 shares of the business services provider's stock worth $9,957,000 after acquiring an additional 2,435 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RSG shares. Truist Financial upped their price target on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. National Bank Financial upgraded Republic Services to a "hold" rating in a research note on Monday, May 26th. Morgan Stanley upped their price target on Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Raymond James Financial restated an "outperform" rating on shares of Republic Services in a research note on Wednesday, April 16th. Finally, UBS Group upped their price target on Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and an average target price of $252.68.

Republic Services Stock Down 1.4%

RSG traded down $3.35 on Tuesday, reaching $239.13. The company's stock had a trading volume of 1,893,460 shares, compared to its average volume of 1,144,740. The stock has a market cap of $74.73 billion, a price-to-earnings ratio of 36.07, a price-to-earnings-growth ratio of 3.72 and a beta of 0.61. Republic Services, Inc. has a 1 year low of $188.82 and a 1 year high of $258.75. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. The business's 50 day moving average is $248.90 and its 200 day moving average is $234.00.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. The firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. Republic Services's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.45 earnings per share. As a group, research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be given a $0.58 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.97%. Republic Services's payout ratio is 34.99%.

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.