Generali Asset Management SPA SGR Buys New Position in GFL Environmental Inc. $GFL

Key Points

• Generali Asset Management SPA SGR opened a new position in GFL Environmental during the fourth quarter, buying 30,905 shares worth about $1.33 million.
• Several other institutional investors also increased their holdings, and institutional ownership stands at 64.70% of the stock.
• GFL reported quarterly earnings of $0.06 per share, topping expectations, while revenue rose 5.4% year over year to $1.18 billion; analysts currently rate the stock Moderate Buy with a consensus target price of $55.

Generali Asset Management SPA SGR purchased a new stake in GFL Environmental Inc. (NYSE:GFL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 30,905 shares of the company's stock, valued at approximately $1,327,000.

A number of other hedge funds have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company's stock valued at $37,000 after purchasing an additional 219 shares in the last quarter. Advisory Services Network LLC grew its stake in GFL Environmental by 4.1% in the third quarter. Advisory Services Network LLC now owns 6,537 shares of the company's stock valued at $310,000 after purchasing an additional 256 shares in the last quarter. Jones Financial Companies Lllp grew its stake in GFL Environmental by 21.9% in the third quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company's stock valued at $75,000 after purchasing an additional 289 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in GFL Environmental by 45.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company's stock valued at $46,000 after purchasing an additional 304 shares in the last quarter. Finally, Engineers Gate Manager LP grew its stake in GFL Environmental by 6.8% in the second quarter. Engineers Gate Manager LP now owns 5,187 shares of the company's stock valued at $262,000 after purchasing an additional 331 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GFL has been the subject of a number of analyst reports. Scotiabank decreased their price target on GFL Environmental from $56.00 to $52.00 and set a "sector outperform" rating for the company in a research note on Monday, May 4th. Citigroup decreased their price target on GFL Environmental from $55.00 to $51.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Zacks Research upgraded GFL Environmental from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 23rd. Weiss Ratings downgraded GFL Environmental from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 1st. Finally, Barclays raised their price target on GFL Environmental from $62.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, GFL Environmental presently has an average rating of "Moderate Buy" and a consensus target price of $55.00.

GFL Environmental Stock Performance

Shares of NYSE GFL opened at $36.77 on Monday. The company has a market capitalization of $13.16 billion, a P/E ratio of 114.92, a P/E/G ratio of 2.68 and a beta of 0.78. The stock has a 50 day moving average of $41.66 and a 200-day moving average of $43.03. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32. GFL Environmental Inc. has a 12 month low of $36.17 and a 12 month high of $51.51.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.17 billion. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) EPS. As a group, equities research analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 13th were issued a dividend of $0.0169 per share. This represents a $0.07 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, April 13th. This is an increase from GFL Environmental's previous quarterly dividend of $0.02. GFL Environmental's 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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