Pictet Asset Management Holding SA Raises Stake in GFL Environmental Inc. $GFL

Key Points

• Pictet Asset Management raised its stake in GFL by 2.2% in Q4 to 8,511,198 shares (about 2.37% of the company), valued at approximately $365.6 million.
• GFL reported Q4 EPS of $0.26, beating estimates of $0.14, while revenue was $1.23 billion (below the $1.67 billion estimate) but up 7.3% year-over-year.
• Analyst sentiment is mixed: MarketBeat shows a consensus rating of "Moderate Buy" with a $55.44 target, amid divergent moves such as JPMorgan downgrading to underweight and RBC raising its target to $60.

Pictet Asset Management Holding SA lifted its position in GFL Environmental Inc. (NYSE:GFL - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,511,198 shares of the company's stock after purchasing an additional 185,169 shares during the period. Pictet Asset Management Holding SA owned about 2.37% of GFL Environmental worth $365,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company's stock valued at $37,000 after acquiring an additional 219 shares in the last quarter. Advisory Services Network LLC raised its position in shares of GFL Environmental by 4.1% during the third quarter. Advisory Services Network LLC now owns 6,537 shares of the company's stock valued at $310,000 after buying an additional 256 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of GFL Environmental by 21.9% during the third quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company's stock worth $75,000 after acquiring an additional 289 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of GFL Environmental by 45.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company's stock valued at $46,000 after purchasing an additional 304 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its stake in GFL Environmental by 6.8% in the second quarter. Engineers Gate Manager LP now owns 5,187 shares of the company's stock worth $262,000 after purchasing an additional 331 shares during the last quarter. Institutional investors own 64.70% of the company's stock.

GFL Environmental Price Performance

NYSE GFL opened at $40.47 on Monday. The company has a market cap of $14.48 billion, a PE ratio of 5.95, a P/E/G ratio of 3.56 and a beta of 0.84. The firm's 50 day moving average price is $42.25 and its 200-day moving average price is $43.35. 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 52-week low of $36.96 and a 52-week high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its earnings results 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. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned ($0.58) earnings per share. GFL Environmental's revenue was up 7.3% on a year-over-year basis. Sell-side analysts forecast that GFL Environmental Inc. will post 0.55 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, April 13th will be paid a $0.0169 dividend. This represents a $0.07 annualized dividend 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 payout ratio is presently 1.03%.

Analysts Set New Price Targets

Several equities analysts have commented on GFL shares. JPMorgan Chase & Co. downgraded GFL Environmental from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $49.00 to $42.00 in a research report on Tuesday, April 14th. 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 note on Thursday, February 12th. Zacks Research raised shares of GFL Environmental from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Royal Bank Of Canada upped their target price on shares of GFL Environmental from $59.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, February 12th. Finally, Citigroup lowered their price target on GFL Environmental from $55.00 to $51.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.44.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.