GFL Environmental Inc. $GFL Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB grew its holdings in GFL Environmental Inc. (NYSE:GFL) by 40.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,673,954 shares of the company’s stock after purchasing an additional 1,932,442 shares during the quarter. Nordea Investment Management AB’s holdings in GFL Environmental were worth $290,083,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its holdings in GFL Environmental by 684.5% during the 1st quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock worth $124,000 after buying an additional 2,245 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in GFL Environmental by 94.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company’s stock valued at $34,514,000 after buying an additional 346,394 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of GFL Environmental by 11.1% in the second quarter. Geode Capital Management LLC now owns 1,592,253 shares of the company’s stock worth $79,783,000 after acquiring an additional 158,667 shares in the last quarter. Finally, Creative Planning increased its position in shares of GFL Environmental by 7.4% during the second quarter. Creative Planning now owns 31,195 shares of the company’s stock worth $1,574,000 after acquiring an additional 2,152 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on GFL. Citigroup decreased their target price on GFL Environmental from $58.00 to $56.00 and set a “buy” rating for the company in a report on Friday, January 16th. Weiss Ratings lowered GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. Wolfe Research started coverage on GFL Environmental in a research note on Friday, March 13th. They issued an “outperform” rating for the company. Scotiabank lowered their price objective on GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, GFL Environmental presently has an average rating of “Moderate Buy” and a consensus price target of $56.67.

GFL Environmental Stock Performance

Shares of GFL stock opened at $40.77 on Friday. The company has a market cap of $14.59 billion, a P/E ratio of 6.00, a PEG ratio of 3.18 and a beta of 0.86. The firm has a fifty day moving average price of $43.21 and a 200 day moving average price of $44.38. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.05. GFL Environmental Inc. has a 12 month low of $40.67 and a 12 month high of $52.00.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.12. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.67 billion. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.GFL Environmental’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.58) EPS. 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 firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were given a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, January 13th. GFL Environmental’s dividend payout ratio (DPR) is 0.88%.

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.