Advent International L.P. Has $18.41 Million Stock Position in GFL Environmental Inc. $GFL

Advent International L.P. lowered its stake in GFL Environmental Inc. (NYSE:GFL) by 28.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 364,900 shares of the company’s stock after selling 144,850 shares during the quarter. GFL Environmental comprises approximately 0.6% of Advent International L.P.’s investment portfolio, making the stock its 18th biggest holding. Advent International L.P. owned 0.10% of GFL Environmental worth $18,413,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GFL. Progeny 3 Inc. lifted its position in GFL Environmental by 6.7% in the 2nd 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 in the last quarter. Canada Pension Plan Investment Board increased its holdings in GFL Environmental by 7.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,165,743 shares of the company’s stock worth $58,883,000 after purchasing an additional 76,528 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of GFL Environmental by 3.2% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 867,768 shares of the company’s stock valued at $43,770,000 after purchasing an additional 27,120 shares during the period. CIBC Asset Management Inc boosted its position in shares of GFL Environmental by 30.1% during the second quarter. CIBC Asset Management Inc now owns 4,015,118 shares of the company’s stock worth $202,625,000 after buying an additional 927,798 shares during the period. Finally, BCS Private Wealth Management Inc. bought a new position in shares of GFL Environmental during the second quarter worth about $240,000. Institutional investors own 64.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on GFL shares. JPMorgan Chase & Co. cut their target price on GFL Environmental from $54.00 to $46.75 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Citigroup lifted their price objective on shares of GFL Environmental from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. The Goldman Sachs Group began coverage on shares of GFL Environmental in a research report on Monday, November 24th. They issued a “neutral” rating and a $50.00 price objective on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of GFL Environmental in a research report on Thursday. Finally, Barclays started coverage on shares of GFL Environmental in a research report on Friday, September 19th. They set an “overweight” rating and a $62.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $57.08.

GFL Environmental Trading Down 1.0%

Shares of NYSE:GFL opened at $44.16 on Friday. GFL Environmental Inc. has a 52-week low of $41.29 and a 52-week high of $52.00. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $16.04 billion, a P/E ratio of 6.92 and a beta of 0.89. The company has a 50-day simple moving average of $44.85 and a 200 day simple moving average of $47.41.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the business earned $0.33 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Sell-side analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th were given a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 15th. GFL Environmental’s payout ratio is 0.94%.

About GFL Environmental

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.