Munro Partners Grows Holdings in GFL Environmental Inc. $GFL

Munro Partners lifted its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 34.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 344,892 shares of the company’s stock after buying an additional 88,725 shares during the quarter. Munro Partners owned approximately 0.09% of GFL Environmental worth $16,341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in GFL Environmental by 4.4% during the 1st quarter. Royal Bank of Canada now owns 7,883,481 shares of the company’s stock worth $380,850,000 after acquiring an additional 334,218 shares in the last quarter. American Century Companies Inc. lifted its position in shares of GFL Environmental by 6.3% during the second quarter. American Century Companies Inc. now owns 4,798,031 shares of the company’s stock worth $242,109,000 after purchasing an additional 282,729 shares during the last quarter. Maverick Capital Ltd. grew its stake in GFL Environmental by 13.9% in the first quarter. Maverick Capital Ltd. now owns 4,301,966 shares of the company’s stock worth $207,828,000 after purchasing an additional 523,360 shares in the last quarter. CIBC Asset Management Inc grew its stake in GFL Environmental by 30.1% in the second quarter. CIBC Asset Management Inc now owns 4,015,118 shares of the company’s stock worth $202,625,000 after purchasing an additional 927,798 shares in the last quarter. Finally, Norges Bank bought a new stake in GFL Environmental in the second quarter valued at about $171,945,000. 64.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on GFL. Wells Fargo & Company began coverage on GFL Environmental in a report on Thursday, November 13th. They set an “overweight” rating on the stock. The Goldman Sachs Group began coverage on GFL Environmental in a research report on Monday, November 24th. They set a “neutral” rating and a $50.00 price target on the stock. Barclays started coverage on shares of GFL Environmental in a report on Friday, September 19th. They issued an “overweight” rating and a $62.00 price objective for the company. William Blair initiated coverage on shares of GFL Environmental in a research note on Thursday, September 25th. They set an “outperform” rating for the company. Finally, UBS Group raised their price target on shares of GFL Environmental from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, GFL Environmental currently has a consensus rating of “Buy” and an average price target of $57.08.

GFL Environmental Stock Performance

Shares of GFL opened at $43.16 on Wednesday. The firm has a market capitalization of $15.50 billion, a PE ratio of 6.76 and a beta of 0.89. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $44.55 and a 200 day moving average price of $47.08. GFL Environmental Inc. has a 52-week low of $41.29 and a 52-week high of $52.00.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.69 billion. GFL Environmental had a return on equity of 3.06% and a net margin of 50.99%.The company’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. On average, sell-side analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th were given a dividend of $0.0154 per share. The ex-dividend date was Wednesday, October 15th. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental’s dividend payout ratio (DPR) is 0.94%.

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.