Brown Brothers Harriman & Co. Grows Stock Holdings in GFL Environmental Inc. $GFL

Key Points

• Brown Brothers Harriman & Co. increased its stake in GFL Environmental by 3.1%, buying an additional 55,770 shares to hold 1,871,190 shares (about 0.51% of the company) valued at roughly $88.7 million.
• Other large institutions — including Vanguard, American Century, UBS and new money from Norges Bank — also added to positions, leaving 64.7% of GFL stock held by hedge funds and institutional investors.
• GFL recently reported an EPS beat ($0.26 vs. $0.14 estimate) but missed revenue expectations ($1.23B vs. $1.67B), trades at a P/E of 6.32 with a $15.39B market cap, and has a MarketBeat consensus rating of "Moderate Buy" with a $56.67 price target.

Brown Brothers Harriman & Co. increased its position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,871,190 shares of the company's stock after purchasing an additional 55,770 shares during the period. Brown Brothers Harriman & Co. owned 0.51% of GFL Environmental worth $88,657,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GFL. Vanguard Group Inc. increased its holdings in shares of GFL Environmental by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 11,059,655 shares of the company's stock valued at $524,170,000 after acquiring an additional 166,175 shares during the last quarter. American Century Companies Inc. increased its stake in GFL Environmental by 25.5% in the third quarter. American Century Companies Inc. now owns 6,023,139 shares of the company's stock valued at $285,377,000 after purchasing an additional 1,225,108 shares during the last quarter. CIBC Asset Management Inc raised its holdings in GFL Environmental by 1.0% during the third quarter. CIBC Asset Management Inc now owns 4,054,084 shares of the company's stock worth $191,994,000 after purchasing an additional 38,966 shares in the last quarter. Norges Bank purchased a new position in shares of GFL Environmental in the 2nd quarter valued at $171,945,000. Finally, UBS Group AG raised its stake in GFL Environmental by 203.9% during the 3rd quarter. UBS Group AG now owns 1,946,471 shares of the company's stock worth $92,224,000 after acquiring an additional 1,305,953 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Stock Down 0.6%

GFL opened at $42.99 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.58 and a quick ratio of 0.58. GFL Environmental Inc. has a 12 month low of $40.83 and a 12 month high of $52.00. The stock has a market capitalization of $15.39 billion, a P/E ratio of 6.32, a P/E/G ratio of 3.37 and a beta of 0.86. The business has a 50 day simple moving average of $43.24 and a 200-day simple moving average of $44.69.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.12. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the company posted ($0.58) earnings per share. GFL Environmental's quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were issued a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Tuesday, January 13th. GFL Environmental's dividend payout ratio (DPR) is currently 0.88%.

Wall Street Analysts Forecast Growth

GFL has been the topic of several research reports. Scotiabank dropped their price objective on GFL Environmental from $57.00 to $56.00 and set a "sector outperform" rating on the stock in a report on Thursday, February 12th. Wolfe Research initiated coverage on shares of GFL Environmental in a research report on Friday. They set an "outperform" rating on the stock. Citigroup cut their target price on shares of GFL Environmental from $58.00 to $56.00 and set a "buy" rating on the stock in a report on Friday, January 16th. Barclays raised their price objective on shares of GFL Environmental from $62.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of GFL Environmental from $46.75 to $48.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.67.

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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