American Century Companies Inc. Acquires 1,225,108 Shares of GFL Environmental Inc. $GFL

American Century Companies Inc. grew its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 25.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,023,139 shares of the company’s stock after buying an additional 1,225,108 shares during the period. American Century Companies Inc. owned approximately 1.66% of GFL Environmental worth $285,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of GFL. Norges Bank acquired a new position in GFL Environmental in the second quarter valued at about $171,945,000. CIBC Asset Management Inc lifted its holdings in shares of GFL Environmental by 30.1% during the 2nd quarter. CIBC Asset Management Inc now owns 4,015,118 shares of the company’s stock valued at $202,625,000 after purchasing an additional 927,798 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of GFL Environmental by 35.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,344,569 shares of the company’s stock valued at $63,706,000 after purchasing an additional 349,720 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of GFL Environmental by 94.1% in 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 period. Finally, Cubist Systematic Strategies LLC bought a new stake in GFL Environmental during the 2nd quarter worth approximately $13,600,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GFL has been the subject of a number of research reports. Wells Fargo & Company assumed coverage on GFL Environmental in a report on Thursday, November 13th. They set an “overweight” rating for the company. Royal Bank Of Canada boosted their price target on GFL Environmental from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Scotiabank decreased their price objective on GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a report on Thursday, February 12th. Barclays lifted their target price on GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings cut GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.67.

GFL Environmental Stock Performance

Shares of NYSE GFL opened at $44.24 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of 6.51, a P/E/G ratio of 3.42 and a beta of 0.88. The stock’s fifty day moving average price is $43.02 and its two-hundred day moving average price is $45.10. GFL Environmental Inc. has a one year low of $40.83 and a one year high of $52.00.

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

GFL Environmental Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Tuesday, January 13th were given a $0.0154 dividend. The ex-dividend date was Tuesday, January 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.1%. GFL Environmental’s dividend payout ratio (DPR) is currently 0.88%.

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.