Seven Grand Managers LLC Takes Position in GFL Environmental Inc. $GFL

Seven Grand Managers LLC acquired a new stake in GFL Environmental Inc. (NYSE:GFL) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 150,000 shares of the company’s stock, valued at approximately $6,442,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake 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 valued at $37,000 after buying an additional 219 shares during the period. Advisory Services Network LLC increased its stake in shares of GFL Environmental by 4.1% in the third quarter. Advisory Services Network LLC now owns 6,537 shares of the company’s stock valued at $310,000 after buying an additional 256 shares during the period. Jones Financial Companies Lllp increased its stake in shares of GFL Environmental by 21.9% in the third quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock valued at $75,000 after buying an additional 289 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of GFL Environmental by 45.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after buying an additional 304 shares during the period. Finally, Engineers Gate Manager LP increased its stake in shares of GFL Environmental by 6.8% in the second quarter. Engineers Gate Manager LP now owns 5,187 shares of the company’s stock valued at $262,000 after buying an additional 331 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Zacks Research downgraded GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Wolfe Research assumed coverage on GFL Environmental in a research note on Friday, March 13th. They issued an “outperform” rating for the company. Weiss Ratings downgraded GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Scotiabank decreased their target price on shares of 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. Finally, JPMorgan Chase & Co. downgraded shares of GFL Environmental from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $49.00 to $42.00 in a research report on Tuesday, April 14th. Twelve equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

GFL Environmental Stock Performance

NYSE:GFL opened at $34.89 on Thursday. The company has a market capitalization of $12.49 billion, a PE ratio of 109.02, a P/E/G ratio of 2.76 and a beta of 0.78. The company has a 50 day simple moving average of $39.52 and a two-hundred day simple moving average of $42.20. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51. GFL Environmental Inc. has a fifty-two week low of $34.84 and a fifty-two week high of $51.51.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. Research analysts anticipate that GFL Environmental Inc. will post 0.54 earnings per share for the current year.

GFL Environmental Increases Dividend

The company 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. The ex-dividend date of this dividend was Monday, April 13th. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. This is a boost from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s payout ratio is currently 21.88%.

GFL Environmental 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.