S&CO Inc. Increases Stock Position in GFL Environmental Inc. $GFL

S&CO Inc. raised its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 15.7% in the first quarter, Holdings Channel.com reports. The fund owned 203,174 shares of the company’s stock after purchasing an additional 27,575 shares during the period. S&CO Inc.’s holdings in GFL Environmental were worth $8,476,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GFL shares. JPMorgan Chase & Co. boosted their price objective on GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday. Citigroup set a $51.00 price objective on shares of GFL Environmental and gave the company a “buy” rating in a report on Monday, July 6th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Zacks Research downgraded shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, Scotiabank decreased their price objective on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.89.

GFL Environmental Price Performance

Shares of GFL opened at $39.45 on Friday. 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 twelve month low of $33.33 and a twelve month high of $51.51. The firm has a market capitalization of $14.15 billion, a PE ratio of 123.27, a P/E/G ratio of 2.98 and a beta of 0.70. The stock’s 50 day moving average is $36.78 and its two-hundred day moving average is $40.30.

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. The business 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 business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) EPS. Research analysts anticipate that GFL Environmental Inc. will post 0.56 earnings per share for the current year.

GFL Environmental Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be given a $0.0169 dividend. The ex-dividend date is Monday, July 13th. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. GFL Environmental’s dividend payout ratio is currently 18.75%.

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.