C WorldWide Group Holding A S Buys New Shares in GFL Environmental Inc. $GFL

C WorldWide Group Holding A S purchased a new stake in shares of GFL Environmental Inc. (NYSE:GFL) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 29,615 shares of the company’s stock, valued at approximately $1,403,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of GFL Environmental during the 2nd quarter valued at about $171,945,000. CIBC Asset Management Inc boosted its stake in GFL Environmental by 30.1% in the second quarter. CIBC Asset Management Inc now owns 4,015,118 shares of the company’s stock worth $202,625,000 after buying an additional 927,798 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake 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 buying an additional 346,394 shares in the last quarter. American Century Companies Inc. grew its position in GFL Environmental by 6.3% during the second quarter. American Century Companies Inc. now owns 4,798,031 shares of the company’s stock valued at $242,109,000 after acquiring an additional 282,729 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of GFL Environmental during the second quarter worth approximately $13,600,000. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Down 0.9%

NYSE GFL opened at $42.18 on Friday. The business’s 50-day moving average is $43.45 and its 200 day moving average is $45.78. The stock has a market capitalization of $15.15 billion, a PE ratio of 6.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.69 and a quick ratio of 0.69. GFL Environmental Inc. has a 1 year low of $40.83 and a 1 year high of $52.00.

GFL Environmental (NYSE:GFL) last posted its earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.69 billion. GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. GFL Environmental’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. Sell-side analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, January 13th were given a dividend of $0.0154 per share. The ex-dividend date was Tuesday, January 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental’s payout ratio is currently 0.94%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Citigroup cut their price target on shares of GFL Environmental from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, January 16th. The Goldman Sachs Group began coverage on GFL Environmental in a research note on Monday, November 24th. They set a “neutral” rating and a $50.00 price objective on the stock. Wells Fargo & Company initiated coverage on GFL Environmental in a research note on Thursday, November 13th. They issued an “overweight” rating for the company. Finally, Scotiabank restated an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.56.

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.