Swiss National Bank Cuts Stock Position in GFL Environmental Inc. (NYSE:GFL)

Posted by on May 12th, 2023

Swiss National Bank decreased its holdings in shares of GFL Environmental Inc. (NYSE:GFL – Get Rating) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 767,800 shares of the company’s stock after selling 49,200 shares during the period. Swiss National Bank owned 0.22% of GFL Environmental worth $22,416,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. DekaBank Deutsche Girozentrale raised its position in GFL Environmental by 4.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 9,449 shares of the company’s stock valued at $278,000 after purchasing an additional 444 shares during the last quarter. UBS Group AG raised its position in GFL Environmental by 9.7% during the 2nd quarter. UBS Group AG now owns 5,846 shares of the company’s stock valued at $151,000 after purchasing an additional 519 shares during the last quarter. Verition Fund Management LLC raised its position in GFL Environmental by 2.2% during the 1st quarter. Verition Fund Management LLC now owns 47,480 shares of the company’s stock valued at $1,545,000 after purchasing an additional 1,041 shares during the last quarter. Assetmark Inc. raised its position in shares of GFL Environmental by 129.6% in the 3rd quarter. Assetmark Inc. now owns 2,089 shares of the company’s stock worth $53,000 after acquiring an additional 1,179 shares in the last quarter. Finally, Capital Insight Partners LLC raised its position in shares of GFL Environmental by 9.0% in the 4th quarter. Capital Insight Partners LLC now owns 18,360 shares of the company’s stock worth $537,000 after acquiring an additional 1,520 shares in the last quarter. Institutional investors own 63.25% of the company’s stock.

GFL Environmental Trading Up 0.7 %

Shares of GFL stock opened at $37.87 on Friday. GFL Environmental Inc. has a 12-month low of $23.10 and a 12-month high of $38.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.42. The stock’s 50-day moving average price is $34.16 and its 200-day moving average price is $30.93. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of -28.91 and a beta of 1.19.

GFL Environmental (NYSE:GFL – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.09). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.31 billion. GFL Environmental had a positive return on equity of 2.93% and a negative net margin of 7.66%. Equities research analysts predict that GFL Environmental Inc. will post 0.76 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Monday, April 17th were given a dividend of $0.013 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Friday, April 14th. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s payout ratio is -3.82%.

Wall Street Analysts Forecast Growth

GFL has been the subject of a number of analyst reports. BMO Capital Markets raised their price objective on GFL Environmental from C$32.00 to C$35.00 and gave the company an “outperform” rating in a research report on Thursday, February 23rd. Raymond James increased their target price on GFL Environmental from $38.00 to $40.00 in a research note on Tuesday, May 2nd. Royal Bank of Canada increased their target price on GFL Environmental from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, May 1st. JPMorgan Chase & Co. increased their target price on GFL Environmental from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, February 23rd. Finally, National Bank Financial reiterated an “outperfrom under weight” rating on shares of GFL Environmental in a research note on Tuesday, January 31st. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $41.85.

GFL Environmental Company Profile

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GFL Environmental Inc operates as a diversified environmental services company in Canada and the United States. The company offers non-hazardous solid waste management, infrastructure and soil remediation, and liquid waste management services. Its solid waste management business line includes the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste for municipal, residential, and commercial and industrial customers.

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Institutional Ownership by Quarter for GFL Environmental (NYSE:GFL)

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