GFL Environmental Inc. $GFL Shares Acquired by Swiss National Bank

Swiss National Bank lifted its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 26.0% during the first quarter, Holdings Channel reports. The firm owned 815,500 shares of the company’s stock after purchasing an additional 168,200 shares during the quarter. Swiss National Bank’s holdings in GFL Environmental were worth $33,969,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GFL. Jones Financial Companies Lllp raised its holdings in GFL Environmental by 684.5% during the 1st quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock worth $124,000 after buying an additional 2,245 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of 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 buying an additional 346,394 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of GFL Environmental by 3.2% in 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 buying an additional 14,252 shares during the period. Invesco Ltd. increased its position in shares of GFL Environmental by 22.7% in the second quarter. Invesco Ltd. now owns 86,967 shares of the company’s stock worth $4,388,000 after acquiring an additional 16,096 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after acquiring an additional 219 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Stock Performance

Shares of GFL opened at $38.88 on Friday. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of 121.50, a price-to-earnings-growth ratio of 2.96 and a beta of 0.70. The company’s fifty day moving average is $36.96 and its 200-day moving average is $40.16. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32. GFL Environmental Inc. has a 12 month low of $33.33 and a 12 month high of $51.51.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. GFL Environmental’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) earnings per share. Equities analysts expect that GFL Environmental Inc. will post 0.56 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be paid a dividend of $0.0169 per share. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, July 13th. GFL Environmental’s dividend payout ratio is 21.88%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Scotiabank cut their target price on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 4th. Citigroup set a $51.00 target price on GFL Environmental and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Weiss Ratings cut GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.89.

GFL Environmental Company Profile

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.