Korea Investment CORP Boosts Stock Holdings in GFL Environmental Inc. $GFL

Korea Investment CORP lifted its position in GFL Environmental Inc. (NYSE:GFL) by 124.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 262,583 shares of the company’s stock after acquiring an additional 145,484 shares during the quarter. Korea Investment CORP’s holdings in GFL Environmental were worth $12,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GFL. Vanguard Group Inc. grew its position in GFL Environmental by 1.5% during the third quarter. Vanguard Group Inc. now owns 11,059,655 shares of the company’s stock valued at $524,170,000 after buying an additional 166,175 shares during the period. American Century Companies Inc. raised its position 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 acquiring an additional 1,225,108 shares during the period. CIBC Asset Management Inc raised its position in shares of GFL Environmental by 1.0% in the third quarter. CIBC Asset Management Inc now owns 4,054,084 shares of the company’s stock worth $191,994,000 after acquiring an additional 38,966 shares during the period. Norges Bank purchased a new stake in shares of GFL Environmental during the 2nd quarter worth about $171,945,000. Finally, Progeny 3 Inc. boosted its stake in shares of GFL Environmental by 6.7% during the 2nd quarter. Progeny 3 Inc. now owns 1,831,400 shares of the company’s stock worth $92,412,000 after acquiring an additional 114,300 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GFL shares. JPMorgan Chase & Co. raised their target price on GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada increased their price target on GFL Environmental from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. The Goldman Sachs Group began coverage on GFL Environmental in a report on Monday, November 24th. They issued a “neutral” rating and a $50.00 price objective on the stock. Wells Fargo & Company initiated coverage on GFL Environmental in a research report on Thursday, November 13th. They issued an “overweight” rating for the company. Finally, Barclays upped their target price on GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. One research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.67.

GFL Environmental Stock Performance

Shares of NYSE:GFL opened at $43.33 on Thursday. 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 Inc. has a 1 year low of $40.83 and a 1 year high of $52.00. The firm has a market capitalization of $15.51 billion, a PE ratio of 6.37, a P/E/G ratio of 3.39 and a beta of 0.86. The business’s 50 day moving average price is $43.23 and its 200-day moving average price is $44.74.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, beating 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 company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm posted ($0.58) EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were paid a $0.0154 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, January 13th. GFL Environmental’s dividend payout ratio (DPR) is currently 0.88%.

GFL Environmental Company 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.