Massachusetts Financial Services Co. MA Grows Stock Holdings in GFL Environmental Inc. $GFL

Key Points

• Massachusetts Financial Services Co. MA increased its stake in GFL Environmental by 9.6%, owning 11,201,976 shares (about 3.12% of the company) valued at $481,125,000 at quarter end.
• Other institutions also boosted holdings—most notably Goldman Sachs (+94.1%)—and hedge funds/institutional investors now own 64.70% of GFL’s shares.
• GFL recently reported $0.26 EPS versus $0.14 expected (beats) but missed revenue expectations, and Wall Street consensus rates the stock as a “Moderate Buy” with a target price of $56.78.

Massachusetts Financial Services Co. MA raised its position in GFL Environmental Inc. (NYSE:GFL - Free Report) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,201,976 shares of the company's stock after acquiring an additional 977,344 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 3.12% of GFL Environmental worth $481,125,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp increased its position in shares of GFL Environmental by 684.5% during the first quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company's stock valued at $124,000 after buying an additional 2,245 shares during the period. Goldman Sachs Group Inc. increased its position in shares of GFL Environmental by 94.1% during the first quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company's stock valued at $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 increased its position in shares of GFL Environmental by 3.2% during 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 valued at $22,171,000 after buying an additional 14,252 shares during the period. Invesco Ltd. increased its position 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 during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of 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. Hedge funds and other institutional investors own 64.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GFL. JPMorgan Chase & Co. boosted their price target on shares of GFL Environmental from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Friday. Scotiabank reduced their price target on shares of GFL Environmental from $57.00 to $56.00 and set a "sector outperform" rating on the stock in a research report on Thursday, February 12th. Citigroup reduced their price target on shares of GFL Environmental from $58.00 to $56.00 and set a "buy" rating on the stock in a research report on Friday, January 16th. Barclays boosted their price target on shares of GFL Environmental from $62.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, February 12th. Finally, Weiss Ratings cut shares of GFL Environmental from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, GFL Environmental presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.78.

GFL Environmental Price Performance

Shares of GFL opened at $43.12 on Friday. The stock has a market cap of $15.43 billion, a PE ratio of 6.34, a price-to-earnings-growth ratio of 3.32 and a beta of 0.84. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.58 and a current ratio of 0.58. GFL Environmental Inc. has a fifty-two week low of $38.60 and a fifty-two week high of $52.00. The firm's 50-day simple moving average is $42.93 and its two-hundred day simple moving average is $43.88.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.12. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.67 billion. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The business's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.58) earnings per share. Analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, April 13th will be issued a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. This is a boost from GFL Environmental's previous quarterly dividend of $0.02. The ex-dividend date is Monday, April 13th. GFL Environmental's dividend payout ratio is currently 0.88%.

GFL Environmental 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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