GFL Environmental Inc. $GFL Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia grew its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 17.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 357,808 shares of the company’s stock after purchasing an additional 52,121 shares during the period. Bank of Nova Scotia owned approximately 0.10% of GFL Environmental worth $16,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Berbice Capital Management LLC acquired a new stake in GFL Environmental during the second quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its position in 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 buying an additional 219 shares during the last quarter. Jones Financial Companies Lllp grew its position in GFL Environmental by 21.9% in the third quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock worth $75,000 after buying an additional 289 shares during the last quarter. First Horizon Corp bought a new position in shares of GFL Environmental in the third quarter valued at $116,000. Finally, US Bancorp DE increased its holdings in shares of GFL Environmental by 11.8% in the third quarter. US Bancorp DE now owns 3,568 shares of the company’s stock valued at $169,000 after buying an additional 378 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Trading Down 1.3%

NYSE GFL opened at $42.42 on Tuesday. The firm’s 50 day moving average price is $43.23 and its two-hundred day moving average price is $44.57. 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 Inc. has a twelve month low of $40.83 and a twelve month high of $52.00. The stock has a market cap of $15.18 billion, a price-to-earnings ratio of 6.24, a PEG ratio of 3.35 and a beta of 0.86.

GFL Environmental (NYSE:GFL) last released its 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. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.67 billion. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.The company’s revenue for the quarter 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. Equities analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, January 13th were paid a $0.0154 dividend. This represents a $0.06 annualized dividend 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%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup reduced their price objective on GFL Environmental from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, January 16th. Barclays upped their target price on GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Wolfe Research assumed coverage on GFL Environmental in a research report on Friday. They issued an “outperform” rating for the company. Scotiabank dropped their price target 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 started coverage on GFL Environmental in a report on Monday, November 24th. They set a “neutral” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.67.

GFL Environmental 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.