GFL Environmental Inc. $GFL Shares Acquired by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lifted its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 118.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,905 shares of the company’s stock after purchasing an additional 14,605 shares during the period. Bank Pictet & Cie Europe AG’s holdings in GFL Environmental were worth $1,127,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of GFL Environmental by 36.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,335 shares of the company’s stock valued at $56,000 after purchasing an additional 360 shares during the last quarter. MQS Management LLC lifted its position in GFL Environmental by 8.8% during the first quarter. MQS Management LLC now owns 7,815 shares of the company’s stock worth $326,000 after buying an additional 634 shares in the last quarter. Versant Capital Management Inc lifted its position in GFL Environmental by 40.4% during the third quarter. Versant Capital Management Inc now owns 2,527 shares of the company’s stock worth $106,000 after buying an additional 727 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in GFL Environmental during the first quarter worth $32,000. Finally, Rockefeller Capital Management L.P. boosted its stake in GFL Environmental by 2.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 40,688 shares of the company’s stock worth $1,748,000 after buying an additional 784 shares during the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GFL shares. Citigroup set a $51.00 target price on GFL Environmental and gave the company a “buy” rating in a report on Wednesday, October 14th. Wolfe Research initiated coverage on GFL Environmental in a report on Tuesday, September 15th. They set an “outperform” rating and a $77.00 price target on the stock. Weiss Ratings raised shares of GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 26th. Barclays initiated coverage on shares of GFL Environmental in a research report on Wednesday, September 2nd. They set an “overweight” rating and a $58.00 price target on the stock. Finally, Scotiabank dropped their price objective on shares of GFL Environmental from $57.00 to $55.00 and set a “sector outperform” rating for the company in a report on Thursday. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.44.

GFL Environmental Trading Up 0.4%

Shares of NYSE:GFL traded up $0.20 during midday trading on Tuesday, reaching $44.88. 2,190,357 shares of the company’s stock were exchanged, compared to its average volume of 2,477,334. The firm’s 50 day simple moving average is $42.17 and its two-hundred day simple moving average is $39.78. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $16.20 billion, a price-to-earnings ratio of -84.71, a P/E/G ratio of 3.37 and a beta of 0.72. GFL Environmental Inc. has a fifty-two week low of $33.33 and a fifty-two week high of $47.01.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.33 billion. GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. As a group, sell-side analysts forecast that GFL Environmental Inc. will post 0.55 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be paid a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 14th. GFL Environmental’s payout ratio is -13.21%.

GFL Environmental Company Profile

GFL Environmental Inc is a Canadian environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste, as well as organics and other resource-recovery services.

GFL also provides infrastructure and soil remediation services, including the management of contaminated materials and related environmental projects.