Sei Investments Co. Raises Holdings in GFL Environmental Inc. $GFL

Sei Investments Co. increased its holdings in GFL Environmental Inc. (NYSE:GFL) by 13.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 500,055 shares of the company’s stock after purchasing an additional 59,859 shares during the quarter. Sei Investments Co.’s holdings in GFL Environmental were worth $20,863,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Capital Research Global Investors increased 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 acquiring an additional 3,267,936 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of GFL Environmental by 9.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,201,976 shares of the company’s stock worth $481,125,000 after acquiring an additional 977,344 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of GFL Environmental by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 11,156,675 shares of the company’s stock worth $479,255,000 after purchasing an additional 97,020 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of GFL Environmental by 2.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,511,198 shares of the company’s stock worth $365,595,000 after purchasing an additional 185,169 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in GFL Environmental by 25.8% during the fourth quarter. CIBC Asset Management Inc now owns 5,101,264 shares of the company’s stock valued at $219,360,000 after purchasing an additional 1,047,180 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Up 0.5%

GFL Environmental stock opened at $39.20 on Wednesday. GFL Environmental Inc. has a 1-year low of $33.33 and a 1-year high of $51.51. The business has a fifty day moving average price of $37.08 and a 200-day moving average price of $40.09. 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 stock has a market capitalization of $14.06 billion, a price-to-earnings ratio of 122.49, a PEG ratio of 2.95 and a beta of 0.70.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company posted ($0.09) EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that GFL Environmental Inc. will post 0.56 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be issued a $0.0169 dividend. This represents a $0.07 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, July 13th. GFL Environmental’s dividend payout ratio (DPR) is currently 21.88%.

Analysts Set New Price Targets

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

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.