Capital Research Global Investors Cuts Holdings in GFL Environmental Inc. $GFL

Capital Research Global Investors cut its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,595,696 shares of the company’s stock after selling 499,035 shares during the period. Capital Research Global Investors owned approximately 5.12% of GFL Environmental worth $881,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Berbice Capital Management LLC bought a new stake in shares of GFL Environmental in the second quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its position in GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares during the period. Compass Financial Services Inc raised its stake in GFL Environmental by 63.0% during the 2nd quarter. Compass Financial Services Inc now owns 820 shares of the company’s stock valued at $41,000 after buying an additional 317 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of GFL Environmental by 21.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock valued at $75,000 after buying an additional 289 shares during the period. Finally, First Horizon Corp bought a new position in shares of GFL Environmental during the 3rd quarter valued at $116,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on GFL shares. The Goldman Sachs Group started coverage on GFL Environmental in a research report on Monday, November 24th. They set a “neutral” rating and a $50.00 price objective for the company. Barclays increased their price objective on shares of GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Scotiabank reduced their target price on shares of GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a report on Thursday, February 12th. JPMorgan Chase & Co. increased their price target on shares of GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company started coverage on shares of GFL Environmental in a research report on Thursday, November 13th. They set an “overweight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, GFL Environmental has a consensus rating of “Moderate Buy” and a consensus target price of $56.67.

GFL Environmental Price Performance

NYSE GFL opened at $45.12 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.05. GFL Environmental Inc. has a 12 month low of $40.83 and a 12 month high of $52.00. The stock has a market cap of $16.15 billion, a price-to-earnings ratio of 6.63, a PEG ratio of 3.47 and a beta of 0.86. The company’s 50 day moving average is $43.22 and its two-hundred day moving average is $44.81.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping 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%.GFL Environmental’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.58) EPS. As a group, research analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Tuesday, January 13th were paid a $0.0154 dividend. The ex-dividend date was Tuesday, January 13th. This represents a $0.06 annualized dividend and a yield of 0.1%. GFL Environmental’s payout ratio is presently 0.88%.

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.