Fulcrum Asset Management LLP Cuts Stock Position in GFL Environmental Inc. $GFL

Fulcrum Asset Management LLP lessened its holdings in GFL Environmental Inc. (NYSE:GFL) by 79.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,210 shares of the company’s stock after selling 12,156 shares during the quarter. Fulcrum Asset Management LLP’s holdings in GFL Environmental were worth $152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in GFL. EverSource Wealth Advisors LLC boosted its holdings in shares of GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after buying an additional 219 shares during the last quarter. AGP Franklin LLC increased its holdings in GFL Environmental by 3.7% during the second quarter. AGP Franklin LLC now owns 7,427 shares of the company’s stock worth $375,000 after buying an additional 262 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in GFL Environmental by 21.9% during the third quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock worth $75,000 after buying an additional 289 shares during the last quarter. Engineers Gate Manager LP raised its position in GFL Environmental by 6.8% in the second quarter. Engineers Gate Manager LP now owns 5,187 shares of the company’s stock worth $262,000 after acquiring an additional 331 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in GFL Environmental by 0.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 135,875 shares of the company’s stock worth $6,863,000 after acquiring an additional 341 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. The Goldman Sachs Group began coverage on shares of GFL Environmental in a report on Monday, November 24th. They issued a “neutral” rating and a $50.00 price target on the stock. Royal Bank Of Canada upped their price objective on GFL Environmental from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Barclays increased 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. Finally, Citigroup decreased their target price on GFL Environmental from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and an average price target of $56.67.

GFL Environmental Stock Performance

Shares of GFL stock opened at $42.44 on Wednesday. The firm’s 50 day moving average is $43.23 and its 200 day moving average is $44.51. The stock has a market capitalization of $15.19 billion, a P/E ratio of 6.24, a PEG ratio of 3.30 and a beta of 0.86. GFL Environmental Inc. has a 12 month low of $40.83 and a 12 month high of $52.00. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.05.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business earned ($0.58) EPS. GFL Environmental’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were given a $0.0154 dividend. The ex-dividend date was Tuesday, January 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental’s payout ratio is 0.88%.

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.