Kornitzer Capital Management Inc. KS Sells 1,330 Shares of Republic Services, Inc. (NYSE:RSG)

Kornitzer Capital Management Inc. KS trimmed its position in shares of Republic Services, Inc. (NYSE:RSG) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,334 shares of the business services provider’s stock after selling 1,330 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Republic Services were worth $13,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FinTrust Capital Advisors LLC lifted its position in Republic Services by 56.3% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 71 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Republic Services in the 4th quarter valued at $34,000. BKM Wealth Management LLC bought a new stake in Republic Services in the 4th quarter valued at $37,000. Bruce G. Allen Investments LLC bought a new stake in Republic Services in the 4th quarter valued at $41,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Republic Services in the 1st quarter valued at $34,000. 57.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the transaction, the chief executive officer now owns 85,113 shares in the company, valued at approximately $15,669,303.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on RSG. Jefferies Financial Group boosted their price target on shares of Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. UBS Group cut shares of Republic Services from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $175.00 to $195.00 in a research report on Thursday, February 29th. Truist Financial boosted their price target on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Scotiabank began coverage on shares of Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $211.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $199.77.

Republic Services Stock Performance

RSG traded up $0.79 on Friday, reaching $189.76. The company had a trading volume of 1,576,417 shares, compared to its average volume of 1,184,278. Republic Services, Inc. has a fifty-two week low of $135.33 and a fifty-two week high of $192.57. The stock has a market cap of $59.77 billion, a P/E ratio of 34.69, a P/E/G ratio of 3.31 and a beta of 0.68. The company’s fifty day moving average is $185.90 and its 200 day moving average is $168.82. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the prior year, the business earned $1.13 EPS. Republic Services’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, analysts predict that Republic Services, Inc. will post 6.01 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were given a dividend of $0.535 per share. The ex-dividend date was Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.13%. Republic Services’s payout ratio is presently 39.12%.

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.