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

Swiss National Bank lifted its position in shares of GFL Environmental Inc. (NYSE:GFL) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 owned about 0.18% of GFL Environmental worth $26,446,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Seven Grand Managers LLC bought a new position in shares of GFL Environmental during the third quarter valued at approximately $1,994,000. Toronto Dominion Bank grew its stake in shares of GFL Environmental by 33.8% in the 1st quarter. Toronto Dominion Bank now owns 74,152 shares of the company’s stock worth $2,558,000 after buying an additional 18,742 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in GFL Environmental by 115.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 49,566 shares of the company’s stock valued at $1,977,000 after buying an additional 26,542 shares in the last quarter. Copeland Capital Management LLC raised its stake in GFL Environmental by 2.2% during the third quarter. Copeland Capital Management LLC now owns 921,377 shares of the company’s stock valued at $36,745,000 after buying an additional 19,675 shares during the last quarter. Finally, Forsta AP Fonden bought a new stake in GFL Environmental in the third quarter worth $1,761,000. 64.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

GFL Environmental Price Performance

NYSE GFL opened at $45.77 on Friday. 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 Inc. has a 1-year low of $26.87 and a 1-year high of $46.48. The stock has a market capitalization of $17.23 billion, a price-to-earnings ratio of -34.41 and a beta of 1.15. The business’s fifty day moving average price is $41.52 and its 200-day moving average price is $39.11.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. On average, equities analysts predict that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a dividend of $0.014 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. GFL Environmental’s dividend payout ratio is currently -4.51%.

GFL Environmental Profile

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.