Verbena Value LP Acquires 374,000 Shares of GFL Environmental Inc. $GFL

Verbena Value LP lifted its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 44.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,211,100 shares of the company’s stock after purchasing an additional 374,000 shares during the period. GFL Environmental accounts for about 8.3% of Verbena Value LP’s portfolio, making the stock its 3rd biggest position. Verbena Value LP owned 0.34% of GFL Environmental worth $50,527,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GFL. Aster Capital Management DIFC Ltd acquired a new stake in shares of GFL Environmental during the 4th quarter worth approximately $25,000. Whipplewood Advisors LLC acquired a new position in shares of GFL Environmental during the 1st quarter valued at $32,000. Sunbelt Securities Inc. bought a new position in GFL Environmental during the third quarter worth $33,000. EverSource Wealth Advisors LLC boosted its stake in GFL Environmental by 43.1% during the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after acquiring an additional 219 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in GFL Environmental by 45.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after purchasing an additional 304 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on GFL. Weiss Ratings downgraded shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Citigroup set a $51.00 target price on GFL Environmental and gave the company a “buy” rating in a research report on Monday, July 6th. Zacks Research lowered GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. JPMorgan Chase & Co. reduced their price objective on GFL Environmental from $42.00 to $40.00 and set an “underweight” rating for the company in a research note on Monday, July 6th. Finally, Scotiabank lowered their target price on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, May 4th. Twelve investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.78.

GFL Environmental Stock Performance

Shares of GFL Environmental stock opened at $39.75 on Monday. GFL Environmental Inc. has a 52 week low of $33.33 and a 52 week high of $51.51. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32. The business has a 50 day moving average price of $36.61 and a 200-day moving average price of $40.42. The company has a market cap of $14.26 billion, a PE ratio of 124.23, a price-to-earnings-growth ratio of 2.85 and a beta of 0.70.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. GFL Environmental’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts anticipate that GFL Environmental Inc. will post 0.59 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be issued a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, July 13th. 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.