Kornitzer Capital Management Inc. KS Sells 252 Shares of Republic Services, Inc. (NYSE:RSG)

Kornitzer Capital Management Inc. KS lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,610 shares of the business services provider’s stock after selling 252 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Republic Services were worth $15,211,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. D.A. Davidson & CO. raised its stake in shares of Republic Services by 4.2% during the 4th quarter. D.A. Davidson & CO. now owns 13,227 shares of the business services provider’s stock worth $2,661,000 after purchasing an additional 530 shares in the last quarter. Truist Financial Corp raised its position in Republic Services by 2.1% during the fourth quarter. Truist Financial Corp now owns 35,968 shares of the business services provider’s stock worth $7,236,000 after acquiring an additional 747 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Republic Services by 2.7% in the fourth quarter. Sanctuary Advisors LLC now owns 34,982 shares of the business services provider’s stock valued at $7,639,000 after acquiring an additional 917 shares during the last quarter. Catalyst Capital Advisors LLC grew its position in shares of Republic Services by 221.9% in the 4th quarter. Catalyst Capital Advisors LLC now owns 515 shares of the business services provider’s stock valued at $104,000 after acquiring an additional 355 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Republic Services by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 750,571 shares of the business services provider’s stock worth $151,000,000 after purchasing an additional 2,516 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

NYSE:RSG opened at $230.98 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. Republic Services, Inc. has a fifty-two week low of $177.03 and a fifty-two week high of $232.52. The company has a market cap of $72.33 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 3.24 and a beta of 0.74. The stock has a fifty day moving average price of $210.94 and a 200-day moving average price of $207.52.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. During the same period in the prior year, the company posted $1.41 earnings per share. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed 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 yield of 1.00%. Republic Services’s dividend payout ratio is currently 37.12%.

Wall Street Analyst Weigh In

RSG has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their price target on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $219.00 to $237.00 in a research note on Monday, January 6th. CIBC lifted their price objective on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Oppenheimer increased their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and upped their price target for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.38.

Insiders Place Their Bets

In related news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now directly owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

Republic Services Company 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.