Fiera Capital Corp acquired a new position in GFL Environmental Inc. (NYSE:GFL – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 31,753 shares of the company’s stock, valued at approximately $1,364,000.
A number of other institutional investors and hedge funds have also modified their holdings of GFL. Jones Financial Companies Lllp raised its stake in shares of GFL Environmental by 684.5% in the first quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock valued at $124,000 after purchasing an additional 2,245 shares in the last quarter. Goldman Sachs Group Inc. raised its position in GFL Environmental by 94.1% in the first quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company’s stock worth $34,514,000 after purchasing an additional 346,394 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in GFL Environmental by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,936 shares of the company’s stock worth $22,171,000 after purchasing an additional 14,252 shares during the period. Invesco Ltd. boosted its holdings in GFL Environmental by 22.7% during the second quarter. Invesco Ltd. now owns 86,967 shares of the company’s stock valued at $4,388,000 after purchasing an additional 16,096 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after purchasing an additional 219 shares during the period. 64.70% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on GFL. Barclays lifted their target price on shares of GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Scotiabank cut their price objective on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Wolfe Research assumed coverage on GFL Environmental in a research note on Friday, March 13th. They issued an “outperform” rating for the company. Finally, Zacks Research cut GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, GFL Environmental currently has an average rating of “Moderate Buy” and an average target price of $55.00.
GFL Environmental Stock Up 2.4%
NYSE:GFL opened at $35.74 on Wednesday. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 111.68, a P/E/G ratio of 2.71 and a beta of 0.71. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51. The stock’s fifty day moving average price is $38.45 and its two-hundred day moving average price is $41.60. GFL Environmental Inc. has a 52-week low of $33.33 and a 52-week high of $51.51.
GFL Environmental (NYSE:GFL – Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts anticipate that GFL Environmental Inc. will post 0.54 EPS for the current year.
GFL Environmental Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 13th were given a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, April 13th. This is a boost from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s dividend payout ratio is currently 21.88%.
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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