Kornitzer Capital Management Inc. KS Sells 1,050 Shares of Republic Services, Inc. (NYSE:RSG)

Kornitzer Capital Management Inc. KS lessened its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 1.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,560 shares of the business services provider's stock after selling 1,050 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Republic Services were worth $18,055,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in Republic Services by 245.7% during the first quarter. Larson Financial Group LLC now owns 522 shares of the business services provider's stock worth $126,000 after buying an additional 371 shares during the last quarter. PAX Financial Group LLC grew its stake in Republic Services by 4.2% during the first quarter. PAX Financial Group LLC now owns 2,392 shares of the business services provider's stock worth $579,000 after buying an additional 96 shares during the last quarter. Wealthfront Advisers LLC grew its stake in Republic Services by 2.7% during the first quarter. Wealthfront Advisers LLC now owns 57,042 shares of the business services provider's stock worth $13,813,000 after buying an additional 1,487 shares during the last quarter. First Business Financial Services Inc. grew its stake in Republic Services by 6.7% during the first quarter. First Business Financial Services Inc. now owns 13,557 shares of the business services provider's stock worth $3,283,000 after buying an additional 849 shares during the last quarter. Finally, Sather Financial Group Inc bought a new stake in Republic Services during the first quarter worth about $206,000. 57.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RSG shares. Truist Financial upped their price objective on shares of Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. William Blair restated an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. Seaport Res Ptn upgraded Republic Services to a "strong-buy" rating in a research report on Tuesday, May 6th. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price objective on the stock in a research report on Monday, June 9th. Finally, Robert W. Baird increased their price objective on Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $255.21.

Republic Services Trading Down 1.0%

Shares of NYSE RSG traded down $2.34 during midday trading on Tuesday, reaching $241.83. 1,199,287 shares of the stock were exchanged, compared to its average volume of 1,155,107. The business has a 50-day simple moving average of $248.01 and a two-hundred day simple moving average of $235.31. The company has a market capitalization of $75.57 billion, a price-to-earnings ratio of 36.48, a P/E/G ratio of 3.69 and a beta of 0.61. Republic Services, Inc. has a 12 month low of $188.82 and a 12 month high of $258.75. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. The company had revenue of $4.01 billion for the quarter, compared to analysts' expectations of $4.08 billion. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.45 earnings per share. As a group, equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.96%. Republic Services's payout ratio is 34.99%.

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.