Republic Services, Inc. (NYSE:RSG) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its stake in Republic Services, Inc. (NYSE:RSG) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,334 shares of the business services provider’s stock after selling 1,330 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Republic Services were worth $13,248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RSG. FinTrust Capital Advisors LLC boosted its position in shares of Republic Services by 56.3% during the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after buying an additional 71 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Republic Services during the fourth quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL bought a new stake in Republic Services during the first quarter worth approximately $34,000. Millburn Ridgefield Corp bought a new stake in Republic Services during the third quarter worth approximately $36,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Republic Services during the third quarter worth approximately $36,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RSG. Jefferies Financial Group boosted their target price on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Morgan Stanley cut Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target on the stock. in a report on Friday, March 15th. Truist Financial upped their price target on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Wells Fargo & Company upped their price target on Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Finally, Scotiabank started coverage on Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $211.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $199.77.

Insiders Place Their Bets

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

Republic Services Stock Up 0.4 %

Shares of NYSE RSG traded up $0.79 during mid-day trading 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 twelve month low of $135.33 and a twelve month high of $192.57. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $59.77 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 3.31 and a beta of 0.68. The stock’s 50 day moving average is $185.90 and its 200-day moving average is $168.82.

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

Republic Services Announces Dividend

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. This represents a $2.14 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, April 1st. Republic Services’s payout ratio is 39.12%.

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.