Tema Etfs LLC Reduces Position in GFL Environmental Inc. $GFL

Tema Etfs LLC decreased its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 35.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,106 shares of the company’s stock after selling 16,353 shares during the quarter. Tema Etfs LLC’s holdings in GFL Environmental were worth $1,519,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in GFL Environmental by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 8,843,436 shares of the company’s stock valued at $427,166,000 after acquiring an additional 146,256 shares during the period. Royal Bank of Canada lifted its position in shares of GFL Environmental by 4.4% during the first quarter. Royal Bank of Canada now owns 7,883,481 shares of the company’s stock worth $380,850,000 after purchasing an additional 334,218 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of GFL Environmental by 6.3% during the second quarter. American Century Companies Inc. now owns 4,798,031 shares of the company’s stock valued at $242,109,000 after purchasing an additional 282,729 shares during the period. Maverick Capital Ltd. grew its holdings in shares of GFL Environmental by 13.9% in the first quarter. Maverick Capital Ltd. now owns 4,301,966 shares of the company’s stock worth $207,828,000 after purchasing an additional 523,360 shares during the last quarter. Finally, Norges Bank bought a new position in shares of GFL Environmental in the second quarter worth about $171,945,000. 64.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GFL has been the subject of a number of research analyst reports. William Blair assumed coverage on shares of GFL Environmental in a report on Thursday, September 25th. They set an “outperform” rating for the company. Citigroup lifted their price target on shares of GFL Environmental from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Barclays started coverage on GFL Environmental in a report on Friday, September 19th. They issued an “overweight” rating and a $62.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on GFL Environmental from $54.00 to $46.75 and set a “neutral” rating on the stock in a report on Friday, November 7th. Finally, Scotiabank set a $58.00 target price on GFL Environmental in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $57.08.

GFL Environmental Stock Performance

Shares of NYSE:GFL opened at $44.66 on Friday. The firm has a 50 day moving average of $45.14 and a 200 day moving average of $47.62. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $16.23 billion, a price-to-earnings ratio of 7.00 and a beta of 0.89. GFL Environmental Inc. has a 52 week low of $41.29 and a 52 week high of $52.00.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.69 billion. GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 earnings per share. On average, sell-side analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th were issued a $0.0154 dividend. The ex-dividend date was Wednesday, October 15th. This represents a $0.06 dividend on an annualized basis and a yield of 0.1%. GFL Environmental’s payout ratio is currently 0.94%.

GFL Environmental Profile

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.