GFL Environmental Inc. $GFL Shares Newly Acquired by Verde Servicos Internacionais S.A.

Verde Servicos Internacionais S.A. purchased a new stake in GFL Environmental Inc. (NYSE:GFL) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 217,118 shares of the company’s stock, valued at approximately $9,082,000. GFL Environmental comprises 3.1% of Verde Servicos Internacionais S.A.’s holdings, making the stock its 14th biggest holding.

Several other institutional investors have also added to or reduced their stakes in GFL. Bank of America Corp DE grew its stake in shares of GFL Environmental by 43.8% during the first quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock worth $77,064,000 after acquiring an additional 563,001 shares during the last quarter. Verbena Value LP raised its position in shares of GFL Environmental by 44.7% in the 1st quarter. Verbena Value LP now owns 1,211,100 shares of the company’s stock valued at $50,527,000 after purchasing an additional 374,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in GFL Environmental by 68.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,158,643 shares of the company’s stock worth $48,309,000 after purchasing an additional 471,935 shares in the last quarter. QV Investors Inc. acquired a new stake in GFL Environmental in the 3rd quarter worth approximately $44,887,000. Finally, Advent International L.P. boosted its stake in GFL Environmental by 117.1% in the 1st quarter. Advent International L.P. now owns 823,010 shares of the company’s stock worth $34,336,000 after purchasing an additional 443,918 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of GFL Environmental from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 21st. Wolfe Research initiated coverage on shares of GFL Environmental in a report on Tuesday, September 15th. They set an “outperform” rating and a $77.00 price target on the stock. BMO Capital Markets reissued a “market perform” rating on shares of GFL Environmental in a report on Thursday, October 15th. Barclays initiated coverage on GFL Environmental in a research note on Wednesday, September 2nd. They set an “overweight” rating and a $58.00 target price for the company. Finally, Citigroup set a $51.00 target price on GFL Environmental and gave the company a “buy” rating in a research report on Wednesday, October 14th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $57.56.

GFL Environmental Trading Down 1.4%

Shares of NYSE GFL opened at $45.03 on Wednesday. The company’s 50-day simple moving average is $42.51 and its 200-day simple moving average is $40.80. GFL Environmental Inc. has a 52-week low of $33.33 and a 52-week high of $46.76.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, July 29th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the company earned $0.26 earnings per share. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. Equities analysts expect that GFL Environmental Inc. will post 0.55 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be paid a $0.0169 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 14th.

GFL Environmental Profile

GFL Environmental Inc is a Canadian environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste, as well as organics and other resource-recovery services.

GFL also provides infrastructure and soil remediation services, including the management of contaminated materials and related environmental projects.