National Bank of Canada FI Buys 58,730 Shares of GFL Environmental Inc. (NYSE:GFL)

Key Points

• National Bank of Canada FI increased its holdings in GFL Environmental Inc. by 22.5% during Q1, acquiring 58,730 shares for a total of 319,405 shares valued at $15,233,000.
• GFL Environmental's latest earnings report revealed an EPS of $0.19, meeting analyst estimates, with quarterly revenue coming in at $1.23 billion, which was below projections of $1.68 billion.
• Analysts have a consensus rating of "Buy" for GFL, with target prices increasing, the highest being set at $60.00 by Scotiabank.

National Bank of Canada FI grew its holdings in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 22.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 319,405 shares of the company's stock after buying an additional 58,730 shares during the quarter. National Bank of Canada FI owned 0.08% of GFL Environmental worth $15,233,000 at the end of the most recent reporting period.

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

GFL Environmental Stock Performance

Shares of NYSE:GFL opened at $51.00 on Tuesday. The firm has a market cap of $18.70 billion, a PE ratio of 8.03 and a beta of 1.00. The firm's 50 day simple moving average is $49.08 and its 200-day simple moving average is $47.95. GFL Environmental Inc. has a one year low of $38.78 and a one year high of $52.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.67.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, hitting analysts' consensus estimates of $0.19. The business 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%. The company's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.29 earnings per share. As a group, equities analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 14th were given 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 (DPR) is presently 0.94%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GFL shares. 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 report on Friday, May 2nd. JPMorgan Chase & Co. started coverage on shares of GFL Environmental in a research report on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price objective on the stock. Citigroup increased their price objective on shares of GFL Environmental from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Scotiabank increased their price objective on shares of GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada increased their price objective on shares of GFL Environmental from $56.00 to $59.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $57.86.

About GFL Environmental

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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