Groupe la Francaise reduced its holdings in shares of GFL Environmental Inc. (NYSE:GFL – Free Report) by 41.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,612 shares of the company’s stock after selling 18,255 shares during the quarter. Groupe la Francaise’s holdings in GFL Environmental were worth $1,069,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in GFL. Norges Bank purchased a new stake in GFL Environmental during the fourth quarter worth approximately $149,466,000. Maverick Capital Ltd. increased its stake in GFL Environmental by 216.5% in the fourth quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company’s stock valued at $215,761,000 after purchasing an additional 3,436,419 shares during the last quarter. Capital Research Global Investors raised its holdings in GFL Environmental by 17.6% during the fourth quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock worth $939,043,000 after purchasing an additional 3,267,936 shares in the last quarter. UBS Group AG lifted its position in shares of GFL Environmental by 203.9% during the 3rd quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock worth $92,224,000 after buying an additional 1,305,953 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in GFL Environmental by 11,121.4% during the 4th quarter. AQR Capital Management LLC now owns 1,181,049 shares of the company’s stock worth $50,735,000 after acquiring an additional 1,170,524 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently commented on GFL shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research report on Friday. Citigroup set a $51.00 target price on GFL Environmental and gave the company a “buy” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. raised their price target on GFL Environmental from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Scotiabank reiterated an “outperform” rating on shares of GFL Environmental in a research note on Friday. Finally, Zacks Research downgraded GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.
GFL Environmental Stock Performance
NYSE GFL opened at $41.32 on Friday. The firm has a market cap of $14.82 billion, a P/E ratio of -77.97, a P/E/G ratio of 3.13 and a beta of 0.70. GFL Environmental Inc. has a 52-week low of $33.33 and a 52-week high of $51.51. The business’s 50-day moving average price is $37.39 and its 200 day moving average price is $40.08. The company has a quick ratio of 1.51, a current ratio of 0.75 and a debt-to-equity ratio of 1.34.
GFL Environmental (NYSE:GFL – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%.The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business posted $0.26 earnings per share. The firm’s revenue was up 16.3% compared to the same quarter last year. On average, equities research analysts expect that GFL Environmental Inc. will post 0.55 earnings per share for the current year.
GFL Environmental Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 13th were paid a $0.0169 dividend. This represents a $0.07 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 13th. GFL Environmental’s payout ratio is currently -13.21%.
About GFL Environmental
GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.
Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.
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