Entropy Technologies LP Increases Stock Holdings in GFL Environmental Inc. $GFL

Entropy Technologies LP grew its position in GFL Environmental Inc. (NYSE:GFL) by 289.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 39,204 shares of the company’s stock after purchasing an additional 29,134 shares during the period. Entropy Technologies LP’s holdings in GFL Environmental were worth $1,684,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Capital Research Global Investors increased its position in shares of GFL Environmental by 17.6% in the fourth quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock valued at $939,043,000 after buying an additional 3,267,936 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of GFL Environmental by 9.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,201,976 shares of the company’s stock valued at $481,125,000 after acquiring an additional 977,344 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of GFL Environmental by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 11,156,675 shares of the company’s stock valued at $479,255,000 after acquiring an additional 97,020 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of GFL Environmental by 2.2% during the fourth 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. Finally, Nordea Investment Management AB boosted its stake in shares of GFL Environmental by 40.8% during the fourth 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. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Analyst Upgrades and Downgrades

GFL has been the topic of a number of analyst reports. Scotiabank decreased their price objective on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 4th. Weiss Ratings lowered GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. lowered GFL Environmental from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $49.00 to $42.00 in a research note on Tuesday, April 14th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Finally, Zacks Research lowered GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.00.

GFL Environmental Stock Up 0.0%

Shares of NYSE:GFL opened at $35.99 on Tuesday. The stock’s 50-day moving average price is $37.94 and its two-hundred day moving average price is $41.34. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32. GFL Environmental Inc. has a 12-month low of $33.33 and a 12-month high of $51.51. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of 112.46, a PEG ratio of 2.80 and a beta of 0.72.

GFL Environmental (NYSE:GFL) last issued its quarterly 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. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned ($0.09) EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts forecast that GFL Environmental Inc. will post 0.54 EPS for the current year.

GFL Environmental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were paid a $0.0169 dividend. The ex-dividend date of this dividend was Monday, April 13th. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s dividend payout ratio is presently 21.88%.

About GFL Environmental

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.