Verde Servicos Internacionais S.A. Has $8.81 Million Holdings in GFL Environmental Inc. $GFL

Key Points

• Verde Servicos Internacionais S.A. cut its GFL Environmental stake by 33.3% in the first quarter, selling 105,463 shares and leaving it with 211,142 shares valued at about $8.81 million.
• Analysts remain broadly positive on GFL Environmental, with 12 Buy ratings, 2 Hold ratings, and 2 Sell ratings, resulting in a Moderate Buy consensus and a price target of $55.
• GFL reported better-than-expected quarterly results, posting EPS of $0.06 versus the $0.05 estimate and revenue of $1.18 billion, while also maintaining a small quarterly dividend that implies a 0.2% yield.

Verde Servicos Internacionais S.A. decreased its holdings in GFL Environmental Inc. (NYSE:GFL - Free Report) by 33.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 211,142 shares of the company's stock after selling 105,463 shares during the quarter. GFL Environmental makes up 2.7% of Verde Servicos Internacionais S.A.'s investment portfolio, making the stock its 16th biggest holding. Verde Servicos Internacionais S.A. owned approximately 0.06% of GFL Environmental worth $8,809,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp grew its position in shares of GFL Environmental by 684.5% in the 1st 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 last quarter. Goldman Sachs Group Inc. raised 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 worth $34,514,000 after acquiring an additional 346,394 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of GFL Environmental by 3.2% in 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 worth $22,171,000 after acquiring an additional 14,252 shares during the period. Invesco Ltd. boosted its holdings in GFL Environmental by 22.7% in the second quarter. Invesco Ltd. now owns 86,967 shares of the company's stock valued at $4,388,000 after acquiring an additional 16,096 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in 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 during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Zacks Research lowered shares of GFL Environmental from a "strong-buy" rating to a "hold" rating in a report on Friday, May 22nd. JPMorgan Chase & Co. lowered shares of GFL Environmental from a "neutral" rating to an "underweight" rating and reduced their price objective for the company from $49.00 to $42.00 in a research note on Tuesday, April 14th. Scotiabank decreased their price objective on shares of GFL Environmental from $56.00 to $52.00 and set a "sector outperform" rating for the company in a research report on Monday, May 4th. Wolfe Research started coverage on shares of GFL Environmental in a research note on Friday, March 13th. They set an "outperform" rating for the company. Finally, Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $55.00.

GFL Environmental Price Performance

Shares of GFL opened at $36.01 on Wednesday. The firm has a market cap of $12.92 billion, a PE ratio of 112.53, a price-to-earnings-growth ratio of 2.72 and a beta of 0.71. GFL Environmental Inc. has a 52-week low of $33.33 and a 52-week high of $51.51. The business's 50 day moving average price is $36.86 and its two-hundred day moving average price is $40.93. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51.

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

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 13th were issued a $0.0169 dividend. The ex-dividend date was Monday, April 13th. This is a positive change from GFL Environmental's previous quarterly dividend of $0.02. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. GFL Environmental's dividend payout ratio is 21.88%.

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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