Advent International L.P. Acquires 443,918 Shares of GFL Environmental Inc. $GFL

Key Points

• Advent International more than doubled its GFL Environmental stake in the first quarter, adding 443,918 shares to own 823,010 shares valued at approximately $34.3 million. Institutional investors collectively hold 64.7% of the company.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $54.89, despite ratings ranging from buy to sell.
• GFL reported quarterly revenue of $1.18 billion, up 5.4% year over year, and earnings of $0.06 per share—slightly above expectations. The company also declared a quarterly dividend of $0.0169 per share, equivalent to a 0.2% annualized yield.

Advent International L.P. grew its holdings in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 117.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 823,010 shares of the company's stock after acquiring an additional 443,918 shares during the quarter. GFL Environmental accounts for approximately 0.8% of Advent International L.P.'s investment portfolio, making the stock its 16th largest position. Advent International L.P. owned 0.23% of GFL Environmental worth $34,336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of GFL Environmental in the 4th quarter valued at $149,466,000. Maverick Capital Ltd. grew its position in GFL Environmental by 216.5% during the 4th quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company's stock worth $215,761,000 after acquiring an additional 3,436,419 shares during the last quarter. Capital Research Global Investors increased its holdings in GFL Environmental by 17.6% in the 4th quarter. Capital Research Global Investors now owns 21,863,632 shares of the company's stock worth $939,043,000 after purchasing an additional 3,267,936 shares in the last quarter. UBS Group AG increased its holdings in GFL Environmental by 203.9% in the 3rd quarter. UBS Group AG now owns 1,946,471 shares of the company's stock worth $92,224,000 after purchasing an additional 1,305,953 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in GFL Environmental by 11,121.4% in the fourth quarter. AQR Capital Management LLC now owns 1,181,049 shares of the company's stock valued at $50,735,000 after purchasing an additional 1,170,524 shares during the last quarter. Institutional investors own 64.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GFL shares. Citigroup set a $51.00 price target on GFL Environmental and gave the company a "buy" rating in a research note on Monday, July 6th. JPMorgan Chase & Co. upped their price objective on GFL Environmental from $40.00 to $41.00 and gave the company an "underweight" rating in a research note on Thursday, July 16th. Weiss Ratings lowered shares of GFL Environmental from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, July 14th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Finally, Scotiabank reduced their target price on shares of GFL Environmental from $56.00 to $52.00 and set a "sector outperform" rating on the stock in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $54.89.

GFL Environmental Stock Up 0.1%

GFL Environmental stock opened at $39.73 on Monday. The firm has a market cap of $14.25 billion, a price-to-earnings ratio of 124.17, a PEG ratio of 3.01 and a beta of 0.70. GFL Environmental Inc. has a 52-week low of $33.33 and a 52-week 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. The firm has a 50 day moving average price of $37.01 and a two-hundred day moving average price of $40.14.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last 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 predict that GFL Environmental Inc. will post 0.56 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be given a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, July 13th. GFL Environmental's dividend payout ratio is 21.88%.

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.

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