Capital Research Global Investors Boosts Holdings in GFL Environmental Inc. $GFL

Capital Research Global Investors grew its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 17.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,863,632 shares of the company’s stock after purchasing an additional 3,267,936 shares during the period. Capital Research Global Investors owned approximately 6.09% of GFL Environmental worth $939,043,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in GFL. Norges Bank purchased a new stake in shares of GFL Environmental during the 4th quarter worth $149,466,000. Nordea Investment Management AB boosted its position in shares of GFL Environmental by 40.8% during the 4th 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 in the last quarter. UBS Group AG boosted its position in shares of GFL Environmental by 203.9% during the 3rd quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock worth $92,224,000 after purchasing an additional 1,305,953 shares in the last quarter. American Century Companies Inc. boosted its position in shares of GFL Environmental by 25.5% during the 3rd quarter. American Century Companies Inc. now owns 6,023,139 shares of the company’s stock worth $285,377,000 after purchasing an additional 1,225,108 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of GFL Environmental by 25.8% during the 4th quarter. CIBC Asset Management Inc now owns 5,101,264 shares of the company’s stock worth $219,360,000 after purchasing an additional 1,047,180 shares in the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on GFL shares. Barclays boosted their target price on shares of GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Scotiabank decreased 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. Wolfe Research initiated coverage on shares of GFL Environmental in a research report on Friday, March 13th. They issued an “outperform” rating on the stock. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada boosted their price objective on shares of GFL Environmental from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. 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. According to data from MarketBeat, GFL Environmental currently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

GFL Environmental Price Performance

GFL Environmental stock opened at $35.50 on Friday. GFL Environmental Inc. has a 52 week low of $33.33 and a 52 week high of $51.51. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32. The firm’s 50-day simple moving average is $38.61 and its 200 day simple moving average is $41.77. The firm has a market capitalization of $12.73 billion, a PE ratio of 110.94, a P/E/G ratio of 2.76 and a beta of 0.71.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm earned ($0.09) EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that GFL Environmental Inc. will post 0.54 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 13th were paid a $0.0169 dividend. This represents a $0.07 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, April 13th. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s dividend payout ratio is presently 21.88%.

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.