Boussard & Gavaudan Gestion Sas Invests $4.71 Million in GFL Environmental Inc. $GFL

Key Points

• Boussard & Gavaudan Gestion initiated a $4.71 million position in GFL Environmental by purchasing 128,989 shares during the second quarter. Institutional investors and hedge funds collectively own 64.7% of the company.
• GFL shares rose 4.3% to $42.81, while the company reported quarterly revenue of $1.37 billion, up 16.3% year over year, but earnings of $0.14 per share missed analyst expectations of $0.17.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $54.75 price target; GFL also announced a quarterly dividend of $0.0169 per share.

Boussard & Gavaudan Gestion Sas purchased a new position in GFL Environmental Inc. (NYSE:GFL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 128,989 shares of the company's stock, valued at approximately $4,707,000.

Several other hedge funds also recently added to or reduced their stakes in GFL. Jones Financial Companies Lllp boosted its stake in shares of GFL Environmental by 684.5% in the first quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company's stock worth $124,000 after buying an additional 2,245 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of GFL Environmental by 94.1% in the first 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in GFL Environmental by 3.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,936 shares of the company's stock worth $22,171,000 after purchasing an additional 14,252 shares in the last quarter. Invesco Ltd. boosted its holdings in GFL Environmental by 22.7% in the 2nd quarter. Invesco Ltd. now owns 86,967 shares of the company's stock valued at $4,388,000 after purchasing an additional 16,096 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company's stock valued at $37,000 after buying an additional 219 shares during the period. 64.70% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Trading Up 4.3%

Shares of NYSE:GFL opened at $42.81 on Friday. The company's 50-day moving average price is $39.87 and its 200 day moving average price is $39.86. The company has a market cap of $15.45 billion, a PE ratio of -80.77, a P/E/G ratio of 2.66 and a beta of 0.68. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.34. GFL Environmental Inc. has a fifty-two week low of $33.33 and a fifty-two week high of $50.10.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03). GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the business earned $0.26 earnings per share. The firm's revenue was up 16.3% compared to the same quarter last year. Sell-side analysts anticipate that GFL Environmental Inc. will post 0.65 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 13th were issued a $0.0169 dividend. The ex-dividend date was Monday, July 13th. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. GFL Environmental's dividend payout ratio (DPR) is -13.21%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GFL. Weiss Ratings upgraded shares of GFL Environmental from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of GFL Environmental in a research report on Friday, July 31st. Citigroup set a $51.00 price target on GFL Environmental and gave the stock a "buy" rating in a research note on Monday, July 6th. Scotiabank reissued an "outperform" rating on shares of GFL Environmental in a research report on Friday, July 31st. Finally, Zacks Research lowered shares of GFL Environmental from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 22nd. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $54.75.

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.

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