GFL Environmental Inc. $GFL Shares Bought by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC raised its position in GFL Environmental Inc. (NYSE:GFL) by 3.4% in the 4th quarter, Holdings Channel reports. The fund owned 1,125,123 shares of the company’s stock after acquiring an additional 37,155 shares during the period. TimesSquare Capital Management LLC’s holdings in GFL Environmental were worth $48,324,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of GFL Environmental by 35.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,344,569 shares of the company’s stock worth $63,706,000 after acquiring an additional 349,720 shares during the period. Bank of Nova Scotia lifted its stake in shares of GFL Environmental by 17.1% in the 3rd quarter. Bank of Nova Scotia now owns 357,808 shares of the company’s stock worth $16,950,000 after acquiring an additional 52,121 shares during the period. Nordea Investment Management AB lifted its stake in shares of GFL Environmental by 40.8% in the 4th quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock worth $290,083,000 after acquiring an additional 1,932,442 shares during the period. Citigroup Inc. lifted its stake in shares of GFL Environmental by 214.7% in the 3rd quarter. Citigroup Inc. now owns 114,849 shares of the company’s stock worth $5,444,000 after acquiring an additional 78,349 shares during the period. Finally, Forge First Asset Management Inc. lifted its stake in shares of GFL Environmental by 42.9% in the 3rd quarter. Forge First Asset Management Inc. now owns 416,100 shares of the company’s stock worth $19,713,000 after acquiring an additional 124,900 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Stock Up 1.4%

Shares of NYSE GFL opened at $37.60 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32. GFL Environmental Inc. has a 52 week low of $35.53 and a 52 week high of $51.51. The firm has a 50-day moving average price of $40.61 and a 200 day moving average price of $42.60. The stock has a market capitalization of $13.46 billion, a price-to-earnings ratio of 117.51, a price-to-earnings-growth ratio of 2.88 and a beta of 0.78.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business earned ($0.09) earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that GFL Environmental Inc. will post 0.54 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 13th were paid a $0.0169 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.02. The ex-dividend date was Monday, April 13th. GFL Environmental’s dividend payout ratio (DPR) is 21.88%.

Wall Street Analysts Forecast Growth

GFL has been the subject of several recent analyst reports. Scotiabank reduced their target price on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, May 4th. Barclays raised their target price on shares of GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Royal Bank Of Canada raised their target price on shares of GFL Environmental from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Zacks Research upgraded shares of GFL Environmental from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Finally, Wolfe Research began coverage on shares of GFL Environmental in a research note on Friday, March 13th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

About GFL Environmental

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.