UBS Group AG Sells 1,698,013 Shares of GFL Environmental Inc. $GFL

Key Points

• UBS Group AG sharply reduced its GFL Environmental stake in the fourth quarter, selling 1,698,013 shares and cutting its holdings by 87.2% to 248,458 shares worth about $10.7 million.
• GFL Environmental reported better-than-expected quarterly results, posting EPS of $0.06 versus estimates of $0.05 and revenue of $1.18 billion, with revenue up 5.4% year over year.
• The company increased its quarterly dividend to $0.0169 per share, or about $0.07 annually, while analysts currently rate the stock a “Moderate Buy” with an average target price of $55.00.

UBS Group AG cut its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 87.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 248,458 shares of the company's stock after selling 1,698,013 shares during the quarter. UBS Group AG owned 0.07% of GFL Environmental worth $10,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of GFL Environmental by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 11,156,675 shares of the company's stock valued at $479,255,000 after purchasing an additional 97,020 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in GFL Environmental by 43.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 110,886 shares of the company's stock worth $4,770,000 after acquiring an additional 33,327 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in GFL Environmental by 9.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,201,976 shares of the company's stock valued at $481,125,000 after acquiring an additional 977,344 shares during the period. Barton Investment Management increased its position in GFL Environmental by 0.7% in the 4th quarter. Barton Investment Management now owns 420,150 shares of the company's stock valued at $18,045,000 after acquiring an additional 2,852 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its position in GFL Environmental by 1.2% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 79,682 shares of the company's stock valued at $3,427,000 after acquiring an additional 982 shares during the period. 64.70% of the stock is owned by institutional investors.

GFL Environmental Stock Down 0.2%

Shares of GFL opened at $37.11 on Friday. The stock's 50-day moving average price is $40.75 and its two-hundred day moving average price is $42.67. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32. GFL Environmental Inc. has a 12 month low of $35.53 and a 12 month high of $51.51. The company has a market capitalization of $13.28 billion, a PE ratio of 115.97, a PEG ratio of 2.89 and a beta of 0.78.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted ($0.09) EPS. The company's quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts anticipate that GFL Environmental Inc. will post 0.54 EPS for the current year.

GFL Environmental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were paid a $0.0169 dividend. The ex-dividend date of this dividend was Monday, April 13th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from GFL Environmental's previous quarterly dividend of $0.02. GFL Environmental's payout ratio is currently 21.88%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Citigroup decreased their price target on shares of GFL Environmental from $55.00 to $51.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Wolfe Research assumed coverage on shares of GFL Environmental in a research report on Friday, March 13th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. cut shares of GFL Environmental from a "neutral" rating to an "underweight" rating and decreased their price target for the company from $49.00 to $42.00 in a research report on Tuesday, April 14th. Royal Bank Of Canada lifted their target price on GFL Environmental from $59.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. Finally, Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of GFL Environmental in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, GFL Environmental has an average rating of "Moderate Buy" and an average target price of $55.00.

About GFL Environmental

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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