Citigroup Inc. Acquires 78,349 Shares of GFL Environmental Inc. $GFL

Citigroup Inc. boosted its holdings in GFL Environmental Inc. (NYSE:GFL) by 214.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,849 shares of the company’s stock after acquiring an additional 78,349 shares during the quarter. Citigroup Inc.’s holdings in GFL Environmental were worth $5,444,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its stake in shares of GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares during the last quarter. AGP Franklin LLC grew its holdings in GFL Environmental by 3.7% during the second quarter. AGP Franklin LLC now owns 7,427 shares of the company’s stock worth $375,000 after buying an additional 262 shares in the last quarter. Jones Financial Companies Lllp raised its position in GFL Environmental by 21.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock valued at $75,000 after buying an additional 289 shares during the last quarter. Compass Financial Services Inc raised its position in GFL Environmental by 63.0% in the 2nd quarter. Compass Financial Services Inc now owns 820 shares of the company’s stock valued at $41,000 after buying an additional 317 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its stake in GFL Environmental by 6.8% during the 2nd quarter. Engineers Gate Manager LP now owns 5,187 shares of the company’s stock valued at $262,000 after acquiring an additional 331 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GFL. JPMorgan Chase & Co. upped their target price on shares of GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Citigroup reduced their price objective on shares of GFL Environmental from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Weiss Ratings cut shares of GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. UBS Group upped their target price on GFL Environmental from $58.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 10th. Finally, Barclays increased their price target on GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and a consensus price target of $56.67.

GFL Environmental Stock Up 0.3%

GFL Environmental stock opened at $45.33 on Wednesday. The firm has a 50 day moving average price of $43.11 and a 200-day moving average price of $44.96. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.05. GFL Environmental Inc. has a twelve month low of $40.83 and a twelve month high of $52.00. The company has a market capitalization of $16.22 billion, a P/E ratio of 6.67, a P/E/G ratio of 3.52 and a beta of 0.86.

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

GFL Environmental Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were given a $0.0154 dividend. The ex-dividend date of this dividend was Tuesday, January 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental’s payout ratio is 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.