Advent International L.P. Has $34.34 Million Position in GFL Environmental Inc. $GFL

Advent International L.P. raised its holdings in GFL Environmental Inc. (NYSE:GFL) by 117.1% during the first quarter, Holdings Channel reports. The institutional investor owned 823,010 shares of the company’s stock after buying an additional 443,918 shares during the quarter. GFL Environmental makes up about 0.8% of Advent International L.P.’s holdings, making the stock its 16th largest position. Advent International L.P.’s holdings in GFL Environmental were worth $34,336,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of GFL Environmental during the fourth quarter worth about $149,466,000. Maverick Capital Ltd. boosted its stake in shares of GFL Environmental by 216.5% in the 4th quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company’s stock worth $215,761,000 after buying an additional 3,436,419 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of GFL Environmental by 17.6% in the 4th quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock worth $939,043,000 after buying an additional 3,267,936 shares during the last quarter. UBS Group AG grew its holdings 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 valued at $92,224,000 after acquiring an additional 1,305,953 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of GFL Environmental by 11,121.4% in the fourth quarter. AQR Capital Management LLC now owns 1,181,049 shares of the company’s stock valued at $50,735,000 after acquiring an additional 1,170,524 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on GFL shares. Scotiabank dropped their price target on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a report on Monday, May 4th. JPMorgan Chase & Co. upped their price objective on GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. Citigroup set a $51.00 price objective on GFL Environmental and gave the company a “buy” rating in a research note on Monday, July 6th. Weiss Ratings lowered GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 14th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.89.

GFL Environmental Stock Up 0.1%

Shares of NYSE GFL opened at $39.73 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $14.25 billion, a PE ratio of 124.17, a P/E/G ratio of 3.01 and a beta of 0.70. GFL Environmental Inc. has a one year low of $33.33 and a one year high of $51.51. The business’s fifty day moving average price is $37.01 and its 200-day moving average price is $40.14.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm posted ($0.09) EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that GFL Environmental Inc. will post 0.56 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 13th will be paid a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, July 13th. GFL Environmental’s payout ratio is presently 21.88%.

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.