Nykredit A S Makes New $966,000 Investment in GFL Environmental Inc. $GFL

Key Points

• Nykredit A/S acquired 26,284 shares of GFL Environmental during the second quarter, valued at approximately $966,000. Institutional investors collectively own 64.7% of the company.
• GFL reported quarterly revenue of $1.37 billion, up 16.3% year over year and above estimates, but EPS of $0.14 missed the $0.17 consensus forecast.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $54.25 versus the reported share price of $43.72; Barclays recently initiated coverage with an overweight rating and a $58 target.

Nykredit A S bought a new position in GFL Environmental Inc. (NYSE:GFL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,284 shares of the company's stock, valued at approximately $966,000.

A number of other institutional investors have also recently made changes to their positions in GFL. Bank of America Corp DE boosted its stake in GFL Environmental by 43.8% during the 1st quarter. Bank of America Corp DE now owns 1,847,166 shares of the company's stock valued at $77,064,000 after purchasing an additional 563,001 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of GFL Environmental by 12.0% in the 4th quarter. Legal & General Group Plc now owns 1,225,212 shares of the company's stock worth $52,700,000 after purchasing an additional 131,332 shares in the last quarter. Verbena Value LP raised its stake in shares of GFL Environmental by 44.7% in the first quarter. Verbena Value LP now owns 1,211,100 shares of the company's stock worth $50,527,000 after purchasing an additional 374,000 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of GFL Environmental in the fourth quarter worth $1,327,000. Finally, Vestcor Inc lifted its holdings in shares of GFL Environmental by 25.7% during the fourth quarter. Vestcor Inc now owns 391,815 shares of the company's stock valued at $16,828,000 after purchasing an additional 80,000 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company's stock.

GFL Environmental Stock Down 0.0%

GFL opened at $43.72 on Tuesday. The firm's 50 day simple moving average is $40.61 and its two-hundred day simple moving average is $39.83. The company has a market capitalization of $15.78 billion, a PE ratio of -82.49, a PEG ratio of 2.84 and a beta of 0.68. GFL Environmental Inc. has a 1-year low of $33.33 and a 1-year high of $48.57. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.03). GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm earned $0.26 EPS. The company's revenue was up 16.3% on a year-over-year basis. As a group, equities analysts forecast that GFL Environmental Inc. will post 0.65 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 13th were given a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, July 13th. GFL Environmental's payout ratio is presently -13.21%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GFL. Scotiabank restated an "outperform" rating on shares of GFL Environmental in a research note on Wednesday, September 2nd. Zacks Research lowered shares of GFL Environmental from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. boosted their price objective on shares of GFL Environmental from $40.00 to $41.00 and gave the company an "underweight" rating in a report on Thursday, July 16th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of GFL Environmental in a report on Monday, August 31st. Finally, Barclays initiated coverage on shares of GFL Environmental in a research report on Wednesday, September 2nd. They issued an "overweight" rating and a $58.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $54.25.

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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