Skandinaviska Enskilda Banken AB publ Acquires 1,500 Shares of GFL Environmental Inc. (NYSE:GFL)

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 4.6% in the first quarter, HoldingsChannel.com reports. The fund owned 34,440 shares of the company’s stock after purchasing an additional 1,500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in GFL Environmental were worth $1,664,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Millstone Evans Group LLC lifted its position in GFL Environmental by 147.8% in the 1st quarter. Millstone Evans Group LLC now owns 560 shares of the company’s stock worth $27,000 after buying an additional 334 shares during the last quarter. Bessemer Group Inc. bought a new stake in GFL Environmental in the 1st quarter worth approximately $28,000. LRI Investments LLC bought a new stake in GFL Environmental in the 1st quarter worth approximately $34,000. Natixis bought a new stake in GFL Environmental in the 4th quarter worth approximately $49,000. Finally, Harbor Investment Advisory LLC bought a new stake in GFL Environmental in the 1st quarter worth approximately $53,000. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Price Performance

Shares of GFL Environmental stock opened at $48.71 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50 day simple moving average is $48.97 and its two-hundred day simple moving average is $47.44. The stock has a market capitalization of $17.86 billion, a P/E ratio of 9.98 and a beta of 1.03. GFL Environmental Inc. has a one year low of $37.00 and a one year high of $52.00.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.52 billion. GFL Environmental had a return on equity of 3.93% and a net margin of 36.01%. The firm’s quarterly revenue was down 13.4% on a year-over-year basis. Analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 14th will be issued a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. GFL Environmental’s dividend payout ratio is presently 1.23%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Royal Bank Of Canada boosted their target price on GFL Environmental from $53.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. National Bank Financial upgraded GFL Environmental to a “strong-buy” rating in a research report on Monday, May 26th. Truist Financial boosted their target price on GFL Environmental from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. began coverage on GFL Environmental in a research report on Friday, May 23rd. They issued a “neutral” rating and a $54.00 target price for the company. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $57.00 price target (up from $56.00) on shares of GFL Environmental in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, GFL Environmental currently has an average rating of “Buy” and an average price target of $56.29.

About GFL Environmental

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.