GFL Environmental Inc. $GFL Shares Purchased by Vestcor Inc

Vestcor Inc grew its position in GFL Environmental Inc. (NYSE:GFL) by 25.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 391,815 shares of the company’s stock after acquiring an additional 80,000 shares during the quarter. Vestcor Inc’s holdings in GFL Environmental were worth $16,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GFL. JPMorgan Chase & Co. lifted its holdings in shares of GFL Environmental by 35.2% during the third quarter. JPMorgan Chase & Co. now owns 1,344,569 shares of the company’s stock worth $63,706,000 after buying an additional 349,720 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of GFL Environmental by 17.1% during the 3rd quarter. Bank of Nova Scotia now owns 357,808 shares of the company’s stock worth $16,950,000 after acquiring an additional 52,121 shares during the period. Nordea Investment Management AB lifted its stake in 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 purchasing an additional 1,932,442 shares during the last quarter. Citigroup Inc. boosted its stake in GFL Environmental by 214.7% in the third quarter. Citigroup Inc. now owns 114,849 shares of the company’s stock valued at $5,444,000 after buying an additional 78,349 shares in the last quarter. Finally, Forge First Asset Management Inc. boosted its stake in shares of GFL Environmental by 42.9% in the 3rd quarter. Forge First Asset Management Inc. now owns 416,100 shares of the company’s stock valued at $19,713,000 after purchasing an additional 124,900 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GFL has been the topic of several recent research reports. Barclays raised their price objective on GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Zacks Research lowered shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. cut GFL Environmental from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $49.00 to $42.00 in a research note on Tuesday, April 14th. Weiss Ratings lowered shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Finally, Citigroup decreased their price target on shares of GFL Environmental from $55.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.00.

GFL Environmental Stock Performance

Shares of GFL opened at $35.50 on Friday. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 110.94, a PEG ratio of 2.78 and a beta of 0.71. GFL Environmental Inc. has a 12 month low of $33.33 and a 12 month high of $51.51. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32. The stock has a 50 day moving average of $38.61 and a 200 day moving average of $41.77.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm earned ($0.09) EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that GFL Environmental Inc. will post 0.54 earnings per share for the current year.

GFL Environmental Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were given a $0.0169 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, April 13th. GFL Environmental’s payout ratio is presently 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.