Fred Alger Management LLC Has $266.69 Million Stock Position in GFL Environmental Inc. $GFL

Fred Alger Management LLC reduced its position in shares of GFL Environmental Inc. (NYSE:GFL) by 30.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,628,744 shares of the company’s stock after selling 2,493,514 shares during the quarter. GFL Environmental makes up about 1.0% of Fred Alger Management LLC’s portfolio, making the stock its 23rd largest position. Fred Alger Management LLC’s holdings in GFL Environmental were worth $266,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its position in shares of GFL Environmental by 684.5% during the 1st quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock worth $124,000 after buying an additional 2,245 shares during the period. Goldman Sachs Group Inc. lifted its holdings in GFL Environmental by 94.1% in the first quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company’s stock valued at $34,514,000 after buying an additional 346,394 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in GFL Environmental by 3.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,936 shares of the company’s stock valued at $22,171,000 after buying an additional 14,252 shares during the period. Geode Capital Management LLC boosted its stake in GFL Environmental by 11.1% in the second quarter. Geode Capital Management LLC now owns 1,592,253 shares of the company’s stock valued at $79,783,000 after acquiring an additional 158,667 shares during the last quarter. Finally, Creative Planning boosted its stake in GFL Environmental by 7.4% in the second quarter. Creative Planning now owns 31,195 shares of the company’s stock valued at $1,574,000 after acquiring an additional 2,152 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Stock Down 0.6%

Shares of NYSE:GFL opened at $42.99 on Monday. GFL Environmental Inc. has a 52 week low of $40.83 and a 52 week high of $52.00. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $15.39 billion, a PE ratio of 6.32, a PEG ratio of 3.35 and a beta of 0.86. The company has a 50 day moving average price of $43.24 and a two-hundred day moving average price of $44.62.

GFL Environmental (NYSE:GFL) last posted its earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.12. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.67 billion. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the business posted ($0.58) earnings per share. Analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

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 dividend of $0.0154 per share. 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 (DPR) is presently 0.88%.

Analyst Ratings Changes

GFL has been the subject of several recent research reports. Scotiabank dropped their target price on shares of GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 12th. Weiss Ratings lowered GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. Barclays lifted their price objective on GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. The Goldman Sachs Group started coverage on GFL Environmental in a report on Monday, November 24th. They issued a “neutral” rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, GFL Environmental currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.67.

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.