Capital Research Global Investors Sells 499,035 Shares of GFL Environmental Inc. $GFL

Capital Research Global Investors reduced its position in shares of GFL Environmental Inc. (NYSE:GFL) by 2.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 18,595,696 shares of the company’s stock after selling 499,035 shares during the quarter. Capital Research Global Investors owned about 0.05% of GFL Environmental worth $881,064,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in GFL Environmental by 1.5% in the third quarter. Vanguard Group Inc. now owns 11,059,655 shares of the company’s stock worth $524,170,000 after purchasing an additional 166,175 shares during the last quarter. American Century Companies Inc. lifted its position in GFL Environmental by 25.5% during the third quarter. American Century Companies Inc. now owns 6,023,139 shares of the company’s stock valued at $285,377,000 after purchasing an additional 1,225,108 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of GFL Environmental by 1.0% in the 3rd quarter. CIBC Asset Management Inc now owns 4,054,084 shares of the company’s stock worth $191,994,000 after buying an additional 38,966 shares in the last quarter. Norges Bank purchased a new position in shares of GFL Environmental in the 2nd quarter worth $171,945,000. Finally, Progeny 3 Inc. increased its holdings in shares of GFL Environmental by 6.7% in the 2nd quarter. Progeny 3 Inc. now owns 1,831,400 shares of the company’s stock worth $92,412,000 after buying an additional 114,300 shares during the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Stock Performance

GFL Environmental stock opened at $45.12 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $16.15 billion, a P/E ratio of 6.63, a price-to-earnings-growth ratio of 3.47 and a beta of 0.86. GFL Environmental Inc. has a 1-year low of $40.83 and a 1-year high of $52.00. The company’s 50-day moving average is $43.22 and its 200 day moving average is $44.81.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.12. The business 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.58) earnings per share. Research analysts forecast 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 issued a dividend of $0.0154 per share. The ex-dividend date was Tuesday, January 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.1%. GFL Environmental’s payout ratio is presently 0.88%.

Analysts Set New Price Targets

A number of brokerages recently commented on GFL. Wells Fargo & Company assumed coverage on shares of GFL Environmental in a report on Thursday, November 13th. They issued an “overweight” rating for the company. Weiss Ratings cut GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. raised their price objective on GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Barclays lifted their target price on GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Finally, Royal Bank Of Canada boosted their target price on GFL Environmental from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, GFL Environmental 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.