Maverick Capital Ltd. Cuts Stake in GFL Environmental Inc. $GFL

Maverick Capital Ltd. cut its stake in GFL Environmental Inc. (NYSE:GFL) by 23.4% in the first quarter, HoldingsChannel reports. The firm owned 3,849,656 shares of the company’s stock after selling 1,173,761 shares during the quarter. GFL Environmental makes up about 1.9% of Maverick Capital Ltd.’s investment portfolio, making the stock its 24th biggest position. Maverick Capital Ltd.’s holdings in GFL Environmental were worth $160,609,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of GFL Environmental in the 4th quarter valued at about $149,466,000. Capital Research Global Investors boosted 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 valued at $939,043,000 after buying an additional 3,267,936 shares in the last quarter. UBS Group AG grew its position in shares of GFL Environmental by 203.9% in the 3rd quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock valued at $92,224,000 after buying an additional 1,305,953 shares during the last quarter. AQR Capital Management LLC raised its stake in GFL Environmental by 11,121.4% during the 4th quarter. AQR Capital Management LLC now owns 1,181,049 shares of the company’s stock worth $50,735,000 after acquiring an additional 1,170,524 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in GFL Environmental by 3,633.6% during the 4th quarter. Marshall Wace LLP now owns 1,170,208 shares of the company’s stock worth $50,260,000 after acquiring an additional 1,138,865 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GFL. Citigroup set a $51.00 target price on GFL Environmental and gave the company a “buy” rating in a research report on Monday, July 6th. Zacks Research cut GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Scotiabank lowered their target price on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.89.

GFL Environmental Stock Performance

NYSE:GFL opened at $38.99 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market cap of $13.99 billion, a price-to-earnings ratio of 121.86, a price-to-earnings-growth ratio of 3.01 and a beta of 0.70. The firm’s fifty day moving average price is $37.04 and its 200 day moving average price is $40.11. GFL Environmental Inc. has a 1-year low of $33.33 and a 1-year high of $51.51.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating 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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm earned ($0.09) earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts expect that GFL Environmental Inc. will post 0.56 EPS for the current year.

GFL Environmental Announces Dividend

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

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.