CIBC Private Wealth Group LLC Raises Stock Position in GFL Environmental Inc. $GFL

CIBC Private Wealth Group LLC boosted its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 88,339.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 250,283 shares of the company’s stock after purchasing an additional 250,000 shares during the period. CIBC Private Wealth Group LLC’s holdings in GFL Environmental were worth $11,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of GFL Environmental in the 2nd quarter valued at about $171,945,000. UBS Group AG boosted its stake in shares of GFL Environmental by 203.9% in the third quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock worth $92,224,000 after buying an additional 1,305,953 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of GFL Environmental by 25.5% in the third quarter. American Century Companies Inc. now owns 6,023,139 shares of the company’s stock worth $285,377,000 after buying an additional 1,225,108 shares during the last quarter. Millennium Management LLC boosted its stake in shares of GFL Environmental by 62.6% in the third quarter. Millennium Management LLC now owns 2,412,497 shares of the company’s stock worth $114,304,000 after buying an additional 929,206 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in GFL Environmental by 30.1% during the second quarter. CIBC Asset Management Inc now owns 4,015,118 shares of the company’s stock worth $202,625,000 after acquiring an additional 927,798 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Price Performance

Shares of GFL Environmental stock opened at $42.54 on Friday. The stock has a market capitalization of $15.23 billion, a P/E ratio of 6.26, a PEG ratio of 3.30 and a beta of 0.86. The business has a 50 day simple moving average of $43.25 and a two-hundred day simple moving average of $44.49. GFL Environmental Inc. has a 12 month low of $40.83 and a 12 month high of $52.00. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.58 and a quick ratio of 0.58.

GFL Environmental (NYSE:GFL) last issued its quarterly 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 return on equity of 3.66% and a net margin of 56.61%.The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the company posted ($0.58) earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. As a group, analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were issued a dividend of $0.0154 per share. The ex-dividend date of this dividend was Tuesday, January 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. GFL Environmental’s dividend payout ratio is presently 0.88%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GFL. JPMorgan Chase & Co. boosted their price target on GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Citigroup dropped their price objective on shares of GFL Environmental from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Weiss Ratings lowered shares of GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 9th. Barclays boosted their target price on shares of GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Finally, The Goldman Sachs Group initiated coverage on shares of GFL Environmental in a research report on Monday, November 24th. They set a “neutral” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.