Brevan Howard Capital Management LP Takes $639,000 Position in GFL Environmental Inc. (NYSE:GFL)

Brevan Howard Capital Management LP purchased a new stake in GFL Environmental Inc. (NYSE:GFL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 14,344 shares of the company’s stock, valued at approximately $639,000.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of GFL Environmental in the fourth quarter worth about $126,420,000. Capital Research Global Investors boosted its stake in GFL Environmental by 11.4% in the 4th quarter. Capital Research Global Investors now owns 26,973,784 shares of the company’s stock worth $1,201,406,000 after purchasing an additional 2,751,618 shares during the period. FMR LLC grew its position in GFL Environmental by 10.0% during the 4th quarter. FMR LLC now owns 27,664,678 shares of the company’s stock worth $1,233,223,000 after purchasing an additional 2,506,021 shares in the last quarter. Cohen & Steers Inc. acquired a new stake in GFL Environmental during the 4th quarter valued at $51,505,000. Finally, Paralel Advisors LLC purchased a new stake in shares of GFL Environmental in the fourth quarter valued at $44,540,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Down 1.6 %

GFL stock opened at $50.43 on Friday. The firm has a market cap of $19.84 billion, a PE ratio of -37.91 and a beta of 1.08. GFL Environmental Inc. has a 1 year low of $30.57 and a 1 year high of $54.00. The company has a fifty day simple moving average of $47.84 and a 200 day simple moving average of $45.61. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.10). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.52 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company’s revenue was down 13.4% on a year-over-year basis. Sell-side analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th were issued a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio is 1.23%.

Analyst Ratings Changes

Several research firms recently weighed in on GFL. Raymond James reissued an “outperform” rating and set a $57.00 price target (up from $56.00) on shares of GFL Environmental in a research report on Friday, May 2nd. UBS Group increased their price target on shares of GFL Environmental from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. Royal Bank of Canada boosted their price objective on shares of GFL Environmental from $53.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday. Stifel Nicolaus upgraded shares of GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Scotiabank restated an “outperform” rating on shares of GFL Environmental in a report on Monday. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $54.14.

GFL Environmental Company Profile

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.