Norges Bank Takes $149.47 Million Position in GFL Environmental Inc. $GFL

Norges Bank bought a new stake in GFL Environmental Inc. (NYSE:GFL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,479,778 shares of the company’s stock, valued at approximately $149,466,000.

Several other institutional investors also recently bought and sold shares of GFL. Jones Financial Companies Lllp increased its stake in GFL Environmental by 684.5% in the 1st quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock valued at $124,000 after buying an additional 2,245 shares during the period. Goldman Sachs Group Inc. lifted its holdings in GFL Environmental by 94.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company’s stock valued at $34,514,000 after purchasing an additional 346,394 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in GFL Environmental by 3.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,936 shares of the company’s stock valued at $22,171,000 after purchasing an additional 14,252 shares in the last quarter. Invesco Ltd. increased its stake in shares of GFL Environmental by 22.7% during the 2nd quarter. Invesco Ltd. now owns 86,967 shares of the company’s stock valued at $4,388,000 after acquiring an additional 16,096 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in GFL Environmental by 43.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares in the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. 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. Royal Bank Of Canada upped their price target on GFL Environmental from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. cut GFL Environmental from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $49.00 to $42.00 in a report on Tuesday, April 14th. Weiss Ratings cut GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

GFL Environmental Stock Up 2.7%

NYSE GFL opened at $34.68 on Thursday. The stock has a market cap of $12.44 billion, a PE ratio of 108.39, a P/E/G ratio of 2.62 and a beta of 0.71. 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 business has a 50 day moving average price of $38.76 and a two-hundred day moving average price of $41.88. GFL Environmental Inc. has a fifty-two week low of $33.33 and a fifty-two week high of $51.51.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) EPS. As a group, sell-side analysts predict that GFL Environmental Inc. will post 0.54 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were paid a dividend of $0.0169 per share. This is an increase 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 dividend yield of 0.2%. GFL Environmental’s dividend payout ratio (DPR) is currently 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.