Kornitzer Capital Management Inc. KS Has $31.50 Million Stake in Republic Services, Inc. (NYSE:RSG)
Kornitzer Capital Management Inc. KS decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 494,336 shares of the business services provider’s stock after selling 2,385 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.15% of Republic Services worth $31,504,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Cribstone Capital Management LLC purchased a new stake in shares of Republic Services during the first quarter valued at approximately $121,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Republic Services by 59.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock valued at $185,000 after buying an additional 1,078 shares during the last quarter. Pinnacle Financial Partners Inc. purchased a new stake in shares of Republic Services during the first quarter valued at approximately $203,000. Fox Run Management L.L.C. purchased a new stake in shares of Republic Services during the first quarter valued at approximately $204,000. Finally, Pillar Pacific Capital Management LLC purchased a new stake in shares of Republic Services during the first quarter valued at approximately $205,000. 61.66% of the stock is owned by institutional investors and hedge funds.
Shares of Republic Services, Inc. (NYSE RSG) traded down 0.16% during trading on Friday, reaching $63.98. The company had a trading volume of 634,208 shares. The firm has a market capitalization of $21.55 billion, a PE ratio of 32.84 and a beta of 0.58. Republic Services, Inc. has a 1-year low of $49.18 and a 1-year high of $65.54. The firm has a 50-day moving average of $64.37 and a 200 day moving average of $62.64.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. Analysts expect that Republic Services, Inc. will post $2.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.16%. This is a boost from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 29th. Republic Services’s payout ratio is presently 65.64%.
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Several brokerages have recently commented on RSG. Credit Suisse Group set a $63.00 target price on Republic Services and gave the stock a “hold” rating in a research report on Sunday, April 30th. BMO Capital Markets boosted their price objective on Republic Services from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Thursday, May 25th. Stifel Nicolaus reissued a “buy” rating and set a $73.00 price objective on shares of Republic Services in a research note on Wednesday, July 19th. Finally, Barclays PLC reissued a “neutral” rating on shares of Republic Services in a research note on Friday, July 28th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Republic Services has a consensus rating of “Hold” and a consensus target price of $69.78.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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