Peak Financial Advisors LLC Acquires New Position in Republic Services, Inc. $RSG

Peak Financial Advisors LLC bought a new position in Republic Services, Inc. (NYSE:RSG) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 10,200 shares of the business services provider’s stock, valued at approximately $2,341,000. Republic Services makes up approximately 1.1% of Peak Financial Advisors LLC’s investment portfolio, making the stock its 28th biggest position.

A number of other large investors have also made changes to their positions in the stock. Bowen Hanes & Co. Inc. increased its position in Republic Services by 7.3% during the second quarter. Bowen Hanes & Co. Inc. now owns 254,540 shares of the business services provider’s stock worth $62,772,000 after purchasing an additional 17,280 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Republic Services by 10.0% in the 1st quarter. BNP Paribas Financial Markets now owns 479,222 shares of the business services provider’s stock valued at $116,048,000 after buying an additional 43,387 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in shares of Republic Services during the 1st quarter worth approximately $22,078,000. Ascent Group LLC raised its position in shares of Republic Services by 6.3% during the 2nd quarter. Ascent Group LLC now owns 19,063 shares of the business services provider’s stock valued at $4,701,000 after buying an additional 1,130 shares during the period. Finally, Groupe la Francaise lifted its holdings in Republic Services by 88.7% in the second quarter. Groupe la Francaise now owns 58,142 shares of the business services provider’s stock valued at $14,299,000 after acquiring an additional 27,338 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Up 0.3%

Shares of RSG opened at $214.72 on Thursday. The company’s 50-day simple moving average is $214.53 and its 200-day simple moving average is $229.42. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58. Republic Services, Inc. has a 1 year low of $199.43 and a 1 year high of $258.75. The stock has a market capitalization of $66.47 billion, a PE ratio of 31.95, a P/E/G ratio of 3.43 and a beta of 0.54.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Republic Services had a net margin of 12.77% and a return on equity of 18.24%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.81 earnings per share. Analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is currently 37.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Sanford C. Bernstein initiated coverage on Republic Services in a research report on Wednesday, November 12th. They issued a “market perform” rating and a $205.00 target price on the stock. Raymond James Financial restated an “outperform” rating and issued a $240.00 price objective on shares of Republic Services in a report on Friday, October 31st. National Bankshares lowered their target price on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. The Goldman Sachs Group initiated coverage on shares of Republic Services in a research note on Monday, November 24th. They issued a “buy” rating and a $255.00 price target on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Republic Services in a research report on Thursday, November 13th. They set an “overweight” rating and a $238.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $251.10.

Insider Activity

In related news, Director Katharine Weymouth bought 478 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was purchased at an average cost of $209.46 per share, for a total transaction of $100,121.88. Following the completion of the acquisition, the director owned 5,740 shares in the company, valued at approximately $1,202,300.40. This trade represents a 9.08% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

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.