Forsta AP Fonden purchased a new stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 39,300 shares of the company's stock, valued at approximately $1,898,000.
Several other hedge funds and other institutional investors also recently modified their holdings of GFL. Capital Research Global Investors lifted its holdings in GFL Environmental by 11.4% in the fourth quarter. Capital Research Global Investors now owns 26,973,784 shares of the company's stock worth $1,201,406,000 after purchasing an additional 2,751,618 shares during the period. Fred Alger Management LLC lifted its holdings in GFL Environmental by 1.9% in the fourth quarter. Fred Alger Management LLC now owns 10,411,148 shares of the company's stock worth $463,713,000 after purchasing an additional 190,018 shares during the period. Vanguard Group Inc. lifted its holdings in GFL Environmental by 1.7% in the first quarter. Vanguard Group Inc. now owns 8,843,436 shares of the company's stock worth $427,166,000 after purchasing an additional 146,256 shares during the period. Soros Fund Management LLC lifted its holdings in GFL Environmental by 1.5% in the fourth quarter. Soros Fund Management LLC now owns 3,203,904 shares of the company's stock worth $142,702,000 after purchasing an additional 47,577 shares during the period. Finally, TD Asset Management Inc lifted its holdings in GFL Environmental by 19.0% in the first quarter. TD Asset Management Inc now owns 1,330,765 shares of the company's stock worth $64,271,000 after purchasing an additional 212,844 shares during the period. Institutional investors and hedge funds own 64.70% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on GFL shares. Seaport Res Ptn raised shares of GFL Environmental to a "strong-buy" rating in a report on Tuesday, May 6th. Scotiabank upped their price objective on shares of GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Friday, August 1st. Raymond James Financial reaffirmed an "outperform" rating and issued a $57.00 price objective (up previously from $56.00) on shares of GFL Environmental in a report on Friday, May 2nd. National Bank Financial raised shares of GFL Environmental to a "strong-buy" rating in a report on Monday, May 26th. Finally, Citigroup upped their price target on shares of GFL Environmental from $56.00 to $58.00 and gave the company a "buy" rating in a report on Monday, August 4th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $57.86.
Check Out Our Latest Analysis on GFL
GFL Environmental Stock Down 1.3%
Shares of GFL traded down $0.64 during trading hours on Friday, reaching $49.56. The company's stock had a trading volume of 988,467 shares, compared to its average volume of 1,658,315. The firm has a market cap of $18.17 billion, a price-to-earnings ratio of 7.80 and a beta of 1.00. GFL Environmental Inc. has a 1-year low of $38.78 and a 1-year high of $52.00. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average of $49.14 and a two-hundred day moving average of $48.04.
GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, hitting analysts' consensus estimates of $0.19. GFL Environmental had a return on equity of 3.71% and a net margin of 48.53%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. The firm's revenue was up 5.9% on a year-over-year basis. As a group, research analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.
GFL Environmental Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 14th were issued a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. GFL Environmental's dividend payout ratio is currently 0.94%.
About GFL Environmental
(
Free Report)
GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.
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