Kornitzer Capital Management Inc. KS Has $15.24 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Kornitzer Capital Management Inc. KS lowered its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,862 shares of the business services provider's stock after selling 2,460 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Republic Services were worth $15,236,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. Duality Advisers LP acquired a new position in shares of Republic Services in the first quarter worth about $332,000. Empirical Finance LLC boosted its stake in shares of Republic Services by 3.4% during the 1st quarter. Empirical Finance LLC now owns 7,468 shares of the business services provider's stock valued at $1,430,000 after buying an additional 249 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Republic Services by 11.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 57,461 shares of the business services provider's stock worth $11,000,000 after buying an additional 5,744 shares during the last quarter. Empowered Funds LLC raised its holdings in Republic Services by 7.0% in the first quarter. Empowered Funds LLC now owns 13,434 shares of the business services provider's stock valued at $2,565,000 after acquiring an additional 883 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Republic Services by 235.4% during the 1st quarter. SG Americas Securities LLC now owns 255,007 shares of the business services provider's stock valued at $48,819,000 after acquiring an additional 178,969 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RSG has been the subject of several research analyst reports. Oppenheimer boosted their target price on shares of Republic Services from $219.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Robert W. Baird upped their price objective on Republic Services from $208.00 to $210.00 and gave the company a "neutral" rating in a research note on Thursday, July 25th. Morgan Stanley lifted their target price on Republic Services from $208.00 to $217.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Raymond James dropped their price target on Republic Services from $219.00 to $214.00 and set an "outperform" rating on the stock in a research report on Thursday, July 25th. Finally, William Blair started coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an "outperform" rating for the company. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $215.71.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares of the company's stock, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Republic Services Stock Performance

RSG traded up $1.01 during trading hours on Thursday, hitting $208.08. The company's stock had a trading volume of 847,237 shares, compared to its average volume of 1,127,180. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a fifty-two week low of $154.49 and a fifty-two week high of $209.09. The company has a 50-day simple moving average of $203.21 and a 200 day simple moving average of $197.10. The firm has a market capitalization of $65.16 billion, a PE ratio of 33.29, a PEG ratio of 3.07 and a beta of 0.70.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to analysts' expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company's revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.54 earnings per share. As a group, sell-side analysts expect that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.11%. Republic Services's dividend payout ratio is presently 37.12%.

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.