Korea Investment CORP Purchases 145,484 Shares of GFL Environmental Inc. $GFL

Korea Investment CORP grew its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 124.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 262,583 shares of the company’s stock after purchasing an additional 145,484 shares during the period. Korea Investment CORP owned approximately 0.07% of GFL Environmental worth $12,448,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of GFL Environmental in the second quarter worth $171,945,000. American Century Companies Inc. grew its holdings in shares of GFL Environmental by 25.5% during the third quarter. American Century Companies Inc. now owns 6,023,139 shares of the company’s stock valued at $285,377,000 after buying an additional 1,225,108 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of GFL Environmental by 30.1% during the second quarter. CIBC Asset Management Inc now owns 4,015,118 shares of the company’s stock valued at $202,625,000 after buying an additional 927,798 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of GFL Environmental by 35.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,344,569 shares of the company’s stock valued at $63,706,000 after acquiring an additional 349,720 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of GFL Environmental by 94.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company’s stock valued at $34,514,000 after acquiring an additional 346,394 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Price Performance

NYSE:GFL opened at $43.33 on Thursday. The firm’s fifty day moving average is $43.23 and its two-hundred day moving average is $44.74. The firm has a market cap of $15.51 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 3.39 and a beta of 0.86. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.58 and a current ratio of 0.58. GFL Environmental Inc. has a one year low of $40.83 and a one year high of $52.00.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.67 billion. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.58) EPS. Research analysts expect that GFL Environmental Inc. will post 0.58 EPS 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. This represents a $0.06 annualized dividend and a yield of 0.1%. The ex-dividend date was Tuesday, January 13th. GFL Environmental’s dividend payout ratio (DPR) is currently 0.88%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GFL. The Goldman Sachs Group assumed coverage on GFL Environmental in a research report on Monday, November 24th. They set a “neutral” rating and a $50.00 price target for the company. Wells Fargo & Company began coverage on GFL Environmental in a research note on Thursday, November 13th. They issued an “overweight” rating for the company. Barclays lifted their target price on GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Weiss Ratings lowered GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. Finally, Citigroup cut their price target on shares of GFL Environmental from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.67.

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.