Seven Grand Managers LLC Invests $6.44 Million in GFL Environmental Inc. $GFL

Seven Grand Managers LLC acquired a new position in shares of GFL Environmental Inc. (NYSE:GFL) in the 4th quarter, HoldingsChannel reports. The fund acquired 150,000 shares of the company’s stock, valued at approximately $6,442,000.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of GFL Environmental by 35.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,344,569 shares of the company’s stock worth $63,706,000 after buying an additional 349,720 shares during the period. Bank of Nova Scotia grew its position in shares of GFL Environmental by 17.1% during the 3rd quarter. Bank of Nova Scotia now owns 357,808 shares of the company’s stock worth $16,950,000 after buying an additional 52,121 shares during the period. Nordea Investment Management AB grew 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 buying an additional 1,932,442 shares during the period. Citigroup Inc. grew its position in shares of GFL Environmental by 214.7% during the 3rd quarter. Citigroup Inc. now owns 114,849 shares of the company’s stock worth $5,444,000 after buying an additional 78,349 shares during the period. Finally, Forge First Asset Management Inc. grew its position in shares of GFL Environmental by 42.9% during the 3rd quarter. Forge First Asset Management Inc. now owns 416,100 shares of the company’s stock worth $19,713,000 after buying an additional 124,900 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Price Performance

Shares of GFL opened at $34.89 on Thursday. GFL Environmental Inc. has a 12-month low of $34.84 and a 12-month high of $51.51. The business’s fifty day moving average is $39.52 and its 200 day moving average is $42.20. 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 stock has a market cap of $12.49 billion, a P/E ratio of 109.02, a P/E/G ratio of 2.76 and a beta of 0.78.

GFL Environmental (NYSE:GFL) last issued its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.17 billion. During the same period last year, the business earned ($0.09) EPS. GFL Environmental’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that GFL Environmental Inc. will post 0.54 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 13th were paid a dividend of $0.0169 per share. This is a boost from GFL Environmental’s previous quarterly dividend of $0.02. The ex-dividend date was Monday, April 13th. This represents a $0.07 annualized dividend and a yield of 0.2%. GFL Environmental’s dividend payout ratio (DPR) is 21.88%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GFL. Wolfe Research started coverage on shares of GFL Environmental in a research report on Friday, March 13th. They set an “outperform” rating for the company. Citigroup cut their target price on GFL Environmental from $55.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Barclays increased their target price on GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Finally, 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 report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, GFL Environmental has a consensus rating of “Moderate Buy” and an average target price of $55.00.

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.