Envestnet Asset Management Inc. Sells 24,432 Shares of GFL Environmental Inc. $GFL

Envestnet Asset Management Inc. lessened its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 15.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,333 shares of the company’s stock after selling 24,432 shares during the period. Envestnet Asset Management Inc.’s holdings in GFL Environmental were worth $6,318,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of GFL Environmental in the second quarter worth $171,945,000. CIBC Asset Management Inc boosted its stake in GFL Environmental by 30.1% in the 2nd quarter. CIBC Asset Management Inc now owns 4,015,118 shares of the company’s stock worth $202,625,000 after purchasing an additional 927,798 shares in the last quarter. Goldman Sachs Group Inc. grew its position in GFL Environmental by 94.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company’s stock valued at $34,514,000 after purchasing an additional 346,394 shares during the last quarter. American Century Companies Inc. increased its stake in GFL Environmental by 6.3% during the 2nd quarter. American Century Companies Inc. now owns 4,798,031 shares of the company’s stock valued at $242,109,000 after purchasing an additional 282,729 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in GFL Environmental in the second quarter worth about $13,600,000. 64.70% of the stock is owned by institutional investors.

GFL Environmental Stock Performance

GFL stock opened at $42.64 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.58 and a quick ratio of 0.69. GFL Environmental Inc. has a 1 year low of $40.83 and a 1 year high of $52.00. The company has a market cap of $15.31 billion, a P/E ratio of 6.27, a price-to-earnings-growth ratio of 3.24 and a beta of 0.88. The stock’s fifty day moving average price is $43.10 and its 200-day moving average price is $45.33.

GFL Environmental (NYSE:GFL) last posted its earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.67 billion. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.GFL Environmental’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.58) earnings per share. On average, equities analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Tuesday, January 13th were issued 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 Tuesday, January 13th. GFL Environmental’s dividend payout ratio is currently 0.88%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays increased their price target on shares of GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Royal Bank Of Canada increased their target price on GFL Environmental from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. The Goldman Sachs Group began coverage on GFL Environmental in a research note on Monday, November 24th. They issued a “neutral” rating and a $50.00 price target for the company. UBS Group increased their price objective on GFL Environmental from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, JPMorgan Chase & Co. boosted their target price on GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.67.

GFL Environmental Company 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.