Lee Danner & Bass Inc. Takes $12.19 Million Position in Republic Services, Inc. (NYSE:RSG)

Lee Danner & Bass Inc. bought a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 62,728 shares of the business services provider's stock, valued at approximately $12,191,000. Republic Services makes up 0.9% of Lee Danner & Bass Inc.'s holdings, making the stock its 25th biggest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Republic Services by 14.0% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 466,787 shares of the business services provider's stock worth $90,716,000 after buying an additional 57,225 shares in the last quarter. Principal Financial Group Inc. grew its position in Republic Services by 1.2% during the second quarter. Principal Financial Group Inc. now owns 751,279 shares of the business services provider's stock worth $146,004,000 after buying an additional 8,759 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Republic Services by 90.1% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 20,459 shares of the business services provider's stock worth $3,976,000 after buying an additional 9,697 shares in the last quarter. Ameritas Advisory Services LLC grew its position in Republic Services by 4.4% during the second quarter. Ameritas Advisory Services LLC now owns 1,400 shares of the business services provider's stock worth $272,000 after buying an additional 59 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in Republic Services during the second quarter worth about $118,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Trading Up 1.1 %

NYSE:RSG traded up $2.27 during mid-day trading on Friday, reaching $208.21. 883,953 shares of the company's stock traded hands, compared to its average volume of 1,181,102. Republic Services, Inc. has a 12-month low of $140.23 and a 12-month high of $208.69. The firm has a market capitalization of $65.57 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 3.26 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The company has a 50 day moving average price of $199.17 and a 200-day moving average price of $191.15.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.03 billion. On average, sell-side analysts predict that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Wednesday, October 2nd. This is an increase from Republic Services's previous quarterly dividend of $0.54. Republic Services's payout ratio is currently 40.70%.

Analyst Ratings Changes

Several equities research analysts have issued reports on RSG shares. Royal Bank of Canada lifted their price target on Republic Services from $201.00 to $211.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft started coverage on Republic Services in a research note on Thursday, May 23rd. They set a "hold" rating and a $203.00 price target for the company. TD Cowen lifted their price target on Republic Services from $195.00 to $200.00 and gave the stock a "hold" rating in a research note on Monday, August 5th. Oppenheimer dropped their price target on Republic Services from $211.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, July 25th. Finally, Raymond James dropped their price target on Republic Services from $219.00 to $214.00 and set an "outperform" rating for the company in a research note on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $211.00.

Insiders Place Their Bets

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Katharine Weymouth bought 540 shares of Republic Services stock in a transaction on Tuesday, June 4th. The shares were purchased at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the acquisition, the director now owns 540 shares of the company's stock, valued at $100,040.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tomago Collins sold 3,200 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

About Republic Services

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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