Swiss National Bank Acquires 5,400 Shares of GFL Environmental Inc. (NYSE:GFL)

Swiss National Bank grew its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 0.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 661,900 shares of the company’s stock after purchasing an additional 5,400 shares during the quarter. Swiss National Bank’s holdings in GFL Environmental were worth $26,446,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Millennium Management LLC lifted its stake in GFL Environmental by 40.0% in the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after purchasing an additional 1,614,182 shares in the last quarter. Progeny 3 Inc. increased its holdings in shares of GFL Environmental by 516.3% in the second quarter. Progeny 3 Inc. now owns 893,300 shares of the company’s stock worth $34,776,000 after purchasing an additional 748,350 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of GFL Environmental by 9.4% in the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock worth $273,053,000 after buying an additional 683,120 shares in the last quarter. Maverick Capital Ltd. boosted its stake in GFL Environmental by 22.1% during the second quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock valued at $127,911,000 after buying an additional 595,259 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in GFL Environmental by 26.1% during the 2nd quarter. Marshall Wace LLP now owns 2,476,752 shares of the company’s stock valued at $96,420,000 after buying an additional 512,735 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GFL shares. Royal Bank of Canada upped their price objective on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Raymond James upped their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Truist Financial lifted their price objective on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Scotiabank upped their target price on shares of GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. Finally, UBS Group lifted their price target on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, GFL Environmental has an average rating of “Moderate Buy” and a consensus price target of $45.80.

GFL Environmental Stock Up 1.1 %

Shares of NYSE GFL opened at $45.77 on Friday. GFL Environmental Inc. has a 1 year low of $26.87 and a 1 year high of $46.48. The firm has a 50-day simple moving average of $41.52 and a two-hundred day simple moving average of $39.11. The company has a market cap of $17.23 billion, a P/E ratio of -34.41 and a beta of 1.15. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Research analysts anticipate that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 0.12%. The ex-dividend date was Wednesday, October 16th. GFL Environmental’s dividend payout ratio is presently -4.51%.

About GFL Environmental

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.