Progeny 3 Inc. Sells 104,810 Shares of GFL Environmental Inc. $GFL

Progeny 3 Inc. trimmed its position in GFL Environmental Inc. (NYSE:GFL) by 5.1% during the first quarter, HoldingsChannel.com reports. The firm owned 1,937,200 shares of the company’s stock after selling 104,810 shares during the quarter. GFL Environmental accounts for approximately 4.4% of Progeny 3 Inc.’s investment portfolio, making the stock its 8th biggest holding. Progeny 3 Inc.’s holdings in GFL Environmental were worth $80,820,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in shares of GFL Environmental during the fourth quarter worth about $149,466,000. Maverick Capital Ltd. boosted its position in GFL Environmental by 216.5% during the 4th quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company’s stock worth $215,761,000 after acquiring an additional 3,436,419 shares during the last quarter. Capital Research Global Investors grew its stake in shares of GFL Environmental by 17.6% during the 4th quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock worth $939,043,000 after acquiring an additional 3,267,936 shares in the last quarter. UBS Group AG grew its stake 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 acquiring an additional 1,305,953 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of GFL Environmental by 11,121.4% in 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 last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on GFL. Weiss Ratings lowered shares of GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 14th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. JPMorgan Chase & Co. increased their price objective on shares of GFL Environmental from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Citigroup set a $51.00 price objective on GFL Environmental and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Scotiabank lowered their target price on 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. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.89.

GFL Environmental Stock Performance

Shares of GFL stock opened at $39.73 on Monday. The company has a fifty day moving average price of $37.01 and a two-hundred day moving average price of $40.14. GFL Environmental Inc. has a one year low of $33.33 and a one year high of $51.51. The stock has a market cap of $14.25 billion, a P/E ratio of 124.17, a P/E/G ratio of 3.01 and a beta of 0.70. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. GFL Environmental’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) EPS. As a group, equities analysts predict that GFL Environmental Inc. will post 0.56 EPS for the current year.

GFL Environmental Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be given a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, July 13th. GFL Environmental’s payout ratio is 21.88%.

GFL Environmental 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.