Fiera Capital Corp Makes New Investment in GFL Environmental Inc. $GFL

Key Points

• Fiera Capital opened a new position in GFL Environmental during the fourth quarter, buying 31,753 shares valued at about $1.36 million.
• Institutional ownership remains high, with hedge funds and large investors such as Goldman Sachs and UBS increasing their stakes; institutions now own 64.7% of GFL shares.
• GFL recently beat quarterly earnings expectations with EPS of $0.06 on revenue of $1.18 billion, and analysts currently rate the stock Moderate Buy with a consensus price target of $55.

Fiera Capital Corp bought a new position in GFL Environmental Inc. (NYSE:GFL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 31,753 shares of the company's stock, valued at approximately $1,364,000.

Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in GFL Environmental by 684.5% during the 1st quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company's stock valued at $124,000 after purchasing an additional 2,245 shares during the period. Goldman Sachs Group Inc. boosted 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 worth $34,514,000 after buying an additional 346,394 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of GFL Environmental by 3.2% in the first 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 buying an additional 14,252 shares during the period. Invesco Ltd. grew its holdings in shares of GFL Environmental by 22.7% during the second quarter. Invesco Ltd. now owns 86,967 shares of the company's stock valued at $4,388,000 after buying an additional 16,096 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in GFL Environmental by 43.1% during the second 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. Institutional investors and hedge funds own 64.70% of the company's stock.

GFL Environmental Price Performance

Shares of GFL opened at $35.74 on Wednesday. The firm has a market cap of $12.82 billion, a PE ratio of 111.68, a PEG ratio of 2.71 and a beta of 0.71. The firm's 50 day moving average price is $38.45 and its 200 day moving average price is $41.60. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51. GFL Environmental Inc. has a twelve month low of $33.33 and a twelve month high of $51.51.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted ($0.09) earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts expect that GFL Environmental Inc. will post 0.54 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 13th were given a $0.0169 dividend. This is an increase from GFL Environmental's previous quarterly dividend of $0.02. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, April 13th. GFL Environmental's payout ratio is presently 21.88%.

Analyst Upgrades and Downgrades

GFL has been the subject of a number of research reports. Scotiabank decreased their price objective on GFL Environmental from $56.00 to $52.00 and set a "sector outperform" rating for the company in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Barclays upped their price objective on shares of GFL Environmental from $62.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, February 12th. Citigroup cut their target price on shares of GFL Environmental from $55.00 to $51.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Finally, Wolfe Research initiated coverage on shares of GFL Environmental in a report on Friday, March 13th. They set an "outperform" rating on the stock. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $55.00.

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.

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