S&CO Inc. Acquires Shares of 293,524 GFL Environmental Inc. $GFL

S&CO Inc. acquired a new position in shares of GFL Environmental Inc. (NYSE:GFL) in the second quarter, HoldingsChannel.com reports. The fund acquired 293,524 shares of the company’s stock, valued at approximately $10,798,000.

Several other hedge funds also recently made changes to their positions in GFL. Bank of America Corp DE increased its stake in shares of GFL Environmental by 43.8% during the first quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock worth $77,064,000 after acquiring an additional 563,001 shares during the period. Legal & General Group Plc raised its holdings in GFL Environmental by 12.0% during the fourth quarter. Legal & General Group Plc now owns 1,225,212 shares of the company’s stock worth $52,700,000 after purchasing an additional 131,332 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in GFL Environmental in the fourth quarter valued at about $1,327,000. Verbena Value LP lifted its position in GFL Environmental by 44.7% in the first quarter. Verbena Value LP now owns 1,211,100 shares of the company’s stock valued at $50,527,000 after purchasing an additional 374,000 shares during the period. Finally, Vestcor Inc boosted its holdings in GFL Environmental by 25.7% in the 4th quarter. Vestcor Inc now owns 391,815 shares of the company’s stock valued at $16,828,000 after purchasing an additional 80,000 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Trading Up 0.7%

Shares of GFL opened at $41.92 on Friday. GFL Environmental Inc. has a twelve month low of $33.33 and a twelve month high of $51.40. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $15.13 billion, a P/E ratio of -79.10, a PEG ratio of 2.72 and a beta of 0.68. The firm’s 50-day moving average is $38.73 and its two-hundred day moving average is $39.98.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.33 billion. GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. GFL Environmental’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 earnings per share. On average, research analysts predict that GFL Environmental Inc. will post 0.65 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 13th were paid a $0.0169 dividend. This represents a $0.07 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 13th. GFL Environmental’s dividend payout ratio (DPR) is presently -13.21%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GFL shares. Weiss Ratings cut GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday. Citigroup set a $51.00 price target on GFL Environmental and gave the company a “buy” rating in a report on Monday, July 6th. Zacks Research downgraded GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of GFL Environmental in a report on Friday, July 31st. Finally, Scotiabank reiterated an “outperform” rating on shares of GFL Environmental in a research report on Friday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, GFL Environmental currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

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.