Swiss National Bank Buys 71,100 Shares of GFL Environmental Inc. $GFL

Swiss National Bank increased its position in GFL Environmental Inc. (NYSE:GFL) by 11.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 710,600 shares of the company’s stock after acquiring an additional 71,100 shares during the quarter. Swiss National Bank owned about 0.20% of GFL Environmental worth $33,694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of GFL Environmental by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 11,059,655 shares of the company’s stock valued at $524,170,000 after buying an additional 166,175 shares in the last quarter. American Century Companies Inc. increased its stake in GFL Environmental by 25.5% in the 3rd quarter. American Century Companies Inc. now owns 6,023,139 shares of the company’s stock worth $285,377,000 after buying an additional 1,225,108 shares in the last quarter. CIBC Asset Management Inc increased its stake in GFL Environmental by 1.0% in the 3rd quarter. CIBC Asset Management Inc now owns 4,054,084 shares of the company’s stock worth $191,994,000 after buying an additional 38,966 shares in the last quarter. Norges Bank bought a new stake in GFL Environmental during the second quarter valued at about $171,945,000. Finally, Progeny 3 Inc. raised its holdings in GFL Environmental by 6.7% during the second quarter. Progeny 3 Inc. now owns 1,831,400 shares of the company’s stock valued at $92,412,000 after acquiring an additional 114,300 shares during the period. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Price Performance

NYSE:GFL traded up $0.22 during trading hours on Friday, reaching $43.45. The stock had a trading volume of 117,312 shares, compared to its average volume of 1,551,777. The stock has a market capitalization of $15.55 billion, a PE ratio of 6.40, a PEG ratio of 3.38 and a beta of 0.86. GFL Environmental Inc. has a 52 week low of $40.83 and a 52 week high of $52.00. The company has a 50 day moving average price of $43.24 and a two-hundred day moving average price of $44.73. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.58 and a current ratio of 0.58.

GFL Environmental (NYSE:GFL) last posted its earnings results on Wednesday, February 11th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the company earned ($0.58) EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Tuesday, January 13th were given a dividend of $0.0154 per share. The ex-dividend date was Tuesday, January 13th. This represents a $0.06 annualized dividend and a yield of 0.1%. GFL Environmental’s dividend payout ratio (DPR) is 0.88%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GFL. Royal Bank Of Canada upped their price objective on GFL Environmental from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Wolfe Research assumed coverage on GFL Environmental in a report on Friday. They issued an “outperform” rating on the stock. Citigroup dropped their price target on GFL Environmental from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, January 16th. Wells Fargo & Company initiated coverage on shares of GFL Environmental in a research report on Thursday, November 13th. They set an “overweight” rating on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.67.

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.