Bank of Montreal Can Boosts Stock Position in GFL Environmental Inc. $GFL

Bank of Montreal Can lifted its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 7.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,535,406 shares of the company’s stock after acquiring an additional 111,714 shares during the quarter. Bank of Montreal Can owned approximately 0.42% of GFL Environmental worth $72,755,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in shares of GFL Environmental by 684.5% in the first quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock worth $124,000 after purchasing an additional 2,245 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of GFL Environmental by 94.1% in the first quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company’s stock worth $34,514,000 after purchasing an additional 346,394 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of GFL Environmental by 3.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,936 shares of the company’s stock valued at $22,171,000 after purchasing an additional 14,252 shares during the period. Aviva PLC purchased a new position in shares of GFL Environmental during the 2nd quarter valued at $6,361,000. Finally, TimesSquare Capital Management LLC lifted its stake in shares of GFL Environmental by 1.5% during the 2nd quarter. TimesSquare Capital Management LLC now owns 1,029,096 shares of the company’s stock valued at $51,928,000 after buying an additional 14,997 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Trading Down 0.4%

GFL stock opened at $43.33 on Thursday. The firm has a fifty day moving average price of $43.23 and a 200 day moving average price of $44.74. GFL Environmental Inc. has a fifty-two week low of $40.83 and a fifty-two week high of $52.00. The firm has a market cap of $15.51 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 3.39 and a beta of 0.86. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.58 and a current ratio of 0.58.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating 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 company 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 firm earned ($0.58) earnings per share. GFL Environmental’s revenue was up 7.3% on a year-over-year basis. Sell-side analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors 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 annualized dividend and a yield of 0.1%. GFL Environmental’s dividend payout ratio (DPR) is currently 0.88%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GFL. JPMorgan Chase & Co. increased their price target on GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Barclays boosted their price objective on GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research 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 stock an “outperform” rating in a research report on Thursday, February 12th. Scotiabank decreased their target price on GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 12th. Finally, The Goldman Sachs Group initiated coverage on GFL Environmental in a report on Monday, November 24th. They issued a “neutral” rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.67.

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.