Swiss National Bank Lowers Position in GFL Environmental Inc. (NYSE:GFL)

Key Points

• Swiss National Bank reduced its stake in GFL Environmental by 1.9%, owning approximately 0.17% of the company worth $31.5 million at the end of the most recent reporting period.
• GFL Environmental's latest earnings report showed a net margin of 48.53% with revenue of $1.23 billion, which fell short of the consensus estimate of $1.68 billion but represented a year-over-year increase of 5.9%.
• The company announced a quarterly dividend of $0.0154 per share, reflecting a 0.1% yield and a payout ratio of 0.94%.

Swiss National Bank decreased its position in GFL Environmental Inc. (NYSE:GFL - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 651,700 shares of the company's stock after selling 12,900 shares during the period. Swiss National Bank owned 0.17% of GFL Environmental worth $31,502,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. purchased a new position in shares of GFL Environmental during the 1st quarter worth approximately $28,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of GFL Environmental during the 1st quarter worth approximately $385,000. Geode Capital Management LLC boosted its position in shares of GFL Environmental by 38.7% during the 4th quarter. Geode Capital Management LLC now owns 1,274,496 shares of the company's stock worth $56,496,000 after purchasing an additional 355,790 shares during the period. Bank of New York Mellon Corp boosted its position in GFL Environmental by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 192,306 shares of the company's stock valued at $9,290,000 after buying an additional 4,981 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new position in GFL Environmental in the 4th quarter valued at approximately $753,000. Hedge funds and other institutional investors own 64.70% of the company's stock.

Analyst Upgrades and Downgrades

GFL has been the subject of several recent research reports. Truist Financial raised their price target on shares of GFL Environmental from $58.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Raymond James Financial reissued an "outperform" rating and issued a $57.00 price target (up previously from $56.00) on shares of GFL Environmental in a research report on Friday, May 2nd. Scotiabank raised their price target on shares of GFL Environmental from $56.00 to $60.00 and gave the company a "sector outperform" rating in a research report on Friday, August 1st. Seaport Res Ptn raised shares of GFL Environmental to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. started coverage on shares of GFL Environmental in a report on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price objective on the stock. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $57.86.

GFL Environmental Stock Performance

NYSE GFL traded down $0.68 during trading on Friday, reaching $49.52. The company's stock had a trading volume of 537,083 shares, compared to its average volume of 1,655,158. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $18.16 billion, a price-to-earnings ratio of 7.80 and a beta of 1.00. GFL Environmental Inc. has a twelve month low of $38.78 and a twelve month high of $52.00. The business's fifty day moving average price is $49.14 and its 200-day moving average price is $48.04.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates of $0.19. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.68 billion. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. GFL Environmental's quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 earnings per share. As a group, analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 14th were issued a $0.0154 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental's payout ratio is 0.94%.

GFL Environmental Company Profile

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.