GFL Environmental Inc. (NYSE:GFL) Shares Bought by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG increased its stake in GFL Environmental Inc. by 18.1% in Q1, bringing their total holdings to 189,720 shares valued at approximately $9.17 million.
• Multiple brokerages have raised their target prices for GFL Environmental, with Royal Bank of Canada setting a new target of $59.00 and Scotiabank raising theirs to $60.00.
• GFL Environmental recently announced a quarterly dividend of $0.0154 per share, resulting in an annualized dividend yield of 0.1%.

J. Safra Sarasin Holding AG raised its position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 18.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 189,720 shares of the company's stock after purchasing an additional 29,139 shares during the period. J. Safra Sarasin Holding AG's holdings in GFL Environmental were worth $9,165,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC raised its position in shares of GFL Environmental by 147.8% in the 1st quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock worth $27,000 after acquiring an additional 334 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of GFL Environmental in the 1st quarter worth $28,000. LRI Investments LLC bought a new position in shares of GFL Environmental in the 1st quarter worth $34,000. Natixis bought a new position in shares of GFL Environmental in the 4th quarter worth $49,000. Finally, Harbor Investment Advisory LLC bought a new position in shares of GFL Environmental in the 1st quarter worth $53,000. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on GFL. Citigroup boosted their price target on GFL Environmental from $53.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Scotiabank boosted their target price on GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Friday. Royal Bank Of Canada boosted their target price on GFL Environmental from $56.00 to $59.00 and gave the stock an "outperform" rating in a research note on Friday. Raymond James Financial restated an "outperform" rating and set a $57.00 target price (up from $56.00) on shares of GFL Environmental in a research note on Friday, May 2nd. Finally, Truist Financial boosted their target price on GFL Environmental from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $57.57.

GFL Environmental Stock Performance

GFL Environmental stock traded down $0.51 during trading hours on Friday, hitting $49.83. 1,309,113 shares of the stock traded hands, compared to its average volume of 1,187,403. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.67 and a quick ratio of 0.82. The firm's 50 day moving average price is $48.97 and its 200-day moving average price is $47.59. The stock has a market capitalization of $18.27 billion, a price-to-earnings ratio of 7.85 and a beta of 1.00. GFL Environmental Inc. has a 1 year low of $37.58 and a 1 year high of $52.00.

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

GFL Environmental Announces Dividend

The business also recently disclosed 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 dividend payout ratio (DPR) is presently 0.94%.

GFL Environmental 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.