J. Safra Sarasin Holding AG Lowers Stock Position in GFL Environmental Inc. $GFL

J. Safra Sarasin Holding AG lowered its position in shares of GFL Environmental Inc. (NYSE:GFL) by 9.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 134,939 shares of the company’s stock after selling 13,552 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in GFL Environmental were worth $5,616,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Research Global Investors lifted its stake in GFL Environmental by 17.6% in the fourth quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock valued at $939,043,000 after purchasing an additional 3,267,936 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of GFL Environmental by 9.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,201,976 shares of the company’s stock valued at $481,125,000 after buying an additional 977,344 shares during the period. Vanguard Group Inc. raised its stake in shares of GFL Environmental by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 11,156,675 shares of the company’s stock valued at $479,255,000 after buying an additional 97,020 shares during the period. Pictet Asset Management Holding SA lifted its position in shares of GFL Environmental by 2.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,511,198 shares of the company’s stock valued at $365,595,000 after buying an additional 185,169 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of GFL Environmental by 40.8% during the 4th quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock valued at $290,083,000 after buying an additional 1,932,442 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GFL shares. Citigroup set a $51.00 price objective on shares of GFL Environmental and gave the stock a “buy” rating in a report on Monday, July 6th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Zacks Research lowered GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Scotiabank reduced their price target on 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. Finally, Weiss Ratings lowered GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.78.

GFL Environmental Stock Performance

Shares of GFL stock opened at $39.17 on Tuesday. The stock has a 50 day moving average price of $36.59 and a two-hundred day moving average price of $40.40. GFL Environmental Inc. has a fifty-two week low of $33.33 and a fifty-two week high of $51.51. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51. The company has a market capitalization of $14.05 billion, a P/E ratio of 122.42, a PEG ratio of 2.85 and a beta of 0.70.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the business earned ($0.09) EPS. GFL Environmental’s revenue was up 5.4% compared to the same quarter last year. Analysts expect that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be given a dividend of $0.0169 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a $0.07 annualized dividend and a yield of 0.2%. GFL Environmental’s dividend payout ratio (DPR) is currently 21.88%.

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.