GFL Environmental Inc. $GFL Holdings Boosted by Swiss National Bank

Swiss National Bank raised its stake in GFL Environmental Inc. (NYSE:GFL) by 26.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 815,500 shares of the company’s stock after acquiring an additional 168,200 shares during the period. Swiss National Bank owned 0.23% of GFL Environmental worth $33,969,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in GFL. Aster Capital Management DIFC Ltd bought a new stake in shares of GFL Environmental in the 4th quarter worth approximately $25,000. Whipplewood Advisors LLC acquired a new position in GFL Environmental during the 1st quarter valued at approximately $32,000. Sunbelt Securities Inc. bought a new position in GFL Environmental during the 3rd quarter worth $33,000. EverSource Wealth Advisors LLC grew its stake in GFL Environmental by 43.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after buying an additional 219 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in GFL Environmental by 45.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after buying an additional 304 shares during the period. 64.70% of the stock is owned by institutional investors.

GFL Environmental Price Performance

NYSE:GFL opened at $38.88 on Friday. The business’s 50-day moving average price is $36.96 and its 200 day moving average price is $40.16. The firm has a market cap of $13.95 billion, a P/E ratio of 121.50, a PEG ratio of 2.96 and a beta of 0.70. GFL Environmental Inc. has a 52-week low of $33.33 and a 52-week high of $51.51. 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 (NYSE:GFL) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the business earned ($0.09) earnings per share. GFL Environmental’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that GFL Environmental Inc. will post 0.56 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup set a $51.00 target price on GFL Environmental and gave the company a “buy” rating in a research note on Monday, July 6th. Zacks Research cut shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. JPMorgan Chase & Co. lifted their price objective on shares of GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Finally, 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. Twelve 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.89.

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.