GFL Environmental Inc. $GFL Shares Purchased by Capital Research Global Investors

Capital Research Global Investors boosted its position in GFL Environmental Inc. (NYSE:GFL) by 17.6% in the 4th quarter, HoldingsChannel reports. The firm owned 21,863,632 shares of the company’s stock after purchasing an additional 3,267,936 shares during the period. Capital Research Global Investors owned approximately 0.06% of GFL Environmental worth $939,043,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in GFL Environmental by 9.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,201,976 shares of the company’s stock valued at $481,125,000 after purchasing an additional 977,344 shares during the last quarter. Vanguard Group Inc. raised its stake in GFL Environmental by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 11,156,675 shares of the company’s stock valued at $479,255,000 after purchasing an additional 97,020 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in shares of GFL Environmental by 2.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,511,198 shares of the company’s stock valued at $365,595,000 after acquiring an additional 185,169 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of GFL Environmental by 40.8% during the 4th quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock valued at $290,083,000 after acquiring an additional 1,932,442 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of GFL Environmental by 25.5% during the 3rd quarter. American Century Companies Inc. now owns 6,023,139 shares of the company’s stock valued at $285,377,000 after acquiring an additional 1,225,108 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GFL. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Scotiabank dropped their price objective on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, May 4th. Zacks Research downgraded shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Royal Bank Of Canada upped their price objective on shares of GFL Environmental from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Finally, Wolfe Research began coverage on shares of GFL Environmental in a research note on Friday, March 13th. They set an “outperform” rating for the company. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, GFL Environmental presently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

GFL Environmental Stock Down 0.8%

GFL opened at $35.50 on Friday. The firm has a 50 day moving average price of $38.61 and a 200 day moving average price of $41.77. The company has a market cap of $12.73 billion, a PE ratio of 110.94, a price-to-earnings-growth ratio of 2.76 and a beta of 0.71. GFL Environmental Inc. has a 1 year low of $33.33 and a 1 year high of $51.51. 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 (NYSE:GFL) last posted its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm 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 was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. Sell-side analysts expect that GFL Environmental Inc. will post 0.54 earnings per share for the current year.

GFL Environmental Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 13th were given a dividend of $0.0169 per share. This is a boost from GFL Environmental’s previous quarterly dividend of $0.02. 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%. GFL Environmental’s dividend 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.