SEB Asset Management AB Makes New Investment in GFL Environmental Inc. $GFL

SEB Asset Management AB purchased a new position in shares of GFL Environmental Inc. (NYSE:GFL) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 34,272 shares of the company’s stock, valued at approximately $1,425,000.

A number of other hedge funds have also recently modified their holdings of GFL. Norges Bank purchased a new stake in shares of GFL Environmental in the 4th quarter worth $149,466,000. Maverick Capital Ltd. lifted its position in GFL Environmental by 216.5% during the fourth quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company’s stock valued at $215,761,000 after purchasing an additional 3,436,419 shares in the last quarter. Capital Research Global Investors lifted its position in GFL Environmental by 17.6% during the fourth quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock valued at $939,043,000 after purchasing an additional 3,267,936 shares in the last quarter. UBS Group AG grew its holdings in GFL Environmental by 203.9% during the third quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock valued at $92,224,000 after purchasing an additional 1,305,953 shares during the period. Finally, AQR Capital Management LLC grew its holdings in GFL Environmental by 11,121.4% during the fourth quarter. AQR Capital Management LLC now owns 1,181,049 shares of the company’s stock valued at $50,735,000 after purchasing an additional 1,170,524 shares during the period. Institutional investors own 64.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price objective on GFL Environmental from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Weiss Ratings cut shares of GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, July 14th. Citigroup set a $51.00 price target on shares of GFL Environmental and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Zacks Research lowered shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.89.

GFL Environmental Price Performance

Shares of GFL Environmental stock opened at $38.88 on Friday. The company has a market capitalization of $13.95 billion, a price-to-earnings ratio of 121.50, a PEG ratio of 2.96 and a beta of 0.70. 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’s 50-day simple moving average is $36.96 and its 200-day simple moving average is $40.16. GFL Environmental Inc. has a 52 week low of $33.33 and a 52 week high of $51.51.

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, 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 the consensus estimate of $1.17 billion. During the same quarter last year, the company earned ($0.09) EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that GFL Environmental Inc. will post 0.56 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be given a dividend of $0.0169 per share. The ex-dividend date is Monday, July 13th. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. GFL Environmental’s dividend payout ratio (DPR) 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.