Erste Asset Management GmbH Grows Position in GFL Environmental Inc. (NYSE:GFL)

Erste Asset Management GmbH increased its position in GFL Environmental Inc. (NYSE:GFL) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,371 shares of the company’s stock after purchasing an additional 261 shares during the quarter. Erste Asset Management GmbH’s holdings in GFL Environmental were worth $597,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of GFL Environmental by 7.4% in the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company’s stock valued at $1,003,591,000 after purchasing an additional 1,728,598 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of GFL Environmental by 2.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company’s stock valued at $471,287,000 after purchasing an additional 257,486 shares during the period. Fred Alger Management LLC lifted its stake in shares of GFL Environmental by 64.3% in the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after purchasing an additional 3,999,363 shares during the period. Maverick Capital Ltd. lifted its stake in shares of GFL Environmental by 11.3% in the 3rd quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock valued at $145,889,000 after purchasing an additional 372,534 shares during the period. Finally, Soros Fund Management LLC raised its stake in GFL Environmental by 487.0% during the third quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock valued at $125,874,000 after buying an additional 2,618,589 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Performance

Shares of GFL opened at $46.24 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 one year low of $30.57 and a one year high of $48.87. The firm has a market capitalization of $18.19 billion, a P/E ratio of -34.77 and a beta of 1.16. The business has a fifty day moving average of $44.75 and a 200 day moving average of $43.50.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.98 billion. As a group, sell-side analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 13th were issued a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Monday, January 13th. GFL Environmental’s payout ratio is currently -3.23%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GFL. Stifel Nicolaus upgraded GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. National Bankshares reiterated an “outperform” rating on shares of GFL Environmental in a research note on Tuesday. Citigroup began coverage on GFL Environmental in a research note on Monday, January 27th. They set a “buy” rating and a $53.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $53.00 price objective on shares of GFL Environmental in a research note on Monday, February 24th. Finally, Scotiabank lifted their target price on GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, GFL Environmental currently has an average rating of “Moderate Buy” and an average target price of $49.78.

GFL Environmental Company 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.