Lee Danner & Bass Inc. Sells 2,247 Shares of Republic Services, Inc. $RSG

Key Points

• Lee Danner & Bass Inc. has reduced its stake in Republic Services, Inc. by 4.0%, selling 2,247 shares and now holding a total of 54,567 shares valued at approximately $13.46 million.
• Republic Services' recent quarterly earnings report showed $1.77 EPS, surpassing analysts' expectations, with revenue of $4.24 billion, a 4.6% increase year-over-year.
• The company declared a quarterly dividend of $0.625 per share, which will be paid on January 15th, 2025, representing an annualized yield of 1.1%.

Lee Danner & Bass Inc. reduced its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,567 shares of the business services provider's stock after selling 2,247 shares during the quarter. Republic Services comprises 1.0% of Lee Danner & Bass Inc.'s holdings, making the stock its 25th largest position. Lee Danner & Bass Inc.'s holdings in Republic Services were worth $13,457,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its holdings in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after acquiring an additional 106 shares during the period. Cranbrook Wealth Management LLC increased its holdings in shares of Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider's stock worth $29,000 after purchasing an additional 110 shares during the period. Key Financial Inc increased its holdings in shares of Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after purchasing an additional 99 shares during the period. TCTC Holdings LLC increased its holdings in shares of Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after purchasing an additional 66 shares during the period. Finally, Elequin Capital LP bought a new position in shares of Republic Services during the first quarter worth approximately $30,000. 57.73% of the stock is owned by institutional investors.

Republic Services Price Performance

Shares of NYSE RSG opened at $223.55 on Friday. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The firm has a fifty day simple moving average of $227.95 and a 200 day simple moving average of $238.64. The company has a market capitalization of $69.80 billion, a PE ratio of 33.07, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the firm earned $1.61 earnings per share. Republic Services's quarterly revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services's payout ratio is 36.98%.

Analyst Ratings Changes

Several brokerages have recently commented on RSG. Raymond James Financial set a $260.00 target price on shares of Republic Services and gave the stock an "outperform" rating in a report on Monday, October 6th. Stifel Nicolaus began coverage on shares of Republic Services in a research note on Monday, September 29th. They issued a "buy" rating and a $257.00 price objective on the stock. Scotiabank set a $250.00 price objective on shares of Republic Services in a research note on Friday, October 10th. Barclays started coverage on shares of Republic Services in a research note on Friday, September 19th. They issued an "equal weight" rating and a $240.00 price objective on the stock. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Republic Services in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Republic Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $257.10.

Insider Buying and Selling at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the purchase, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the sale, the executive vice president directly owned 4,060 shares of the company's stock, valued at approximately $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.11% of the company's stock.

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.

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