JPMorgan Chase & Co. Acquires 349,720 Shares of GFL Environmental Inc. $GFL

JPMorgan Chase & Co. grew its stake in GFL Environmental Inc. (NYSE:GFL) by 35.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,344,569 shares of the company’s stock after purchasing an additional 349,720 shares during the quarter. JPMorgan Chase & Co. owned about 0.37% of GFL Environmental worth $63,706,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GFL. Jones Financial Companies Lllp grew its stake in shares of GFL Environmental by 684.5% during the first quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock worth $124,000 after purchasing an additional 2,245 shares during the period. Goldman Sachs Group Inc. lifted its stake 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 boosted its holdings in GFL Environmental by 3.2% during 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 worth $22,171,000 after buying an additional 14,252 shares during the last quarter. Geode Capital Management LLC boosted its holdings in GFL Environmental by 11.1% during the second quarter. Geode Capital Management LLC now owns 1,592,253 shares of the company’s stock worth $79,783,000 after buying an additional 158,667 shares during the last quarter. Finally, Creative Planning grew its position in shares of GFL Environmental by 7.4% during the 2nd quarter. Creative Planning now owns 31,195 shares of the company’s stock worth $1,574,000 after buying an additional 2,152 shares during the period. 64.70% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Stock Up 0.4%

Shares of GFL stock opened at $42.54 on Friday. GFL Environmental Inc. has a 12-month low of $40.83 and a 12-month high of $52.00. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.05. The firm has a fifty day moving average of $43.25 and a 200-day moving average of $44.49. The company has a market capitalization of $15.23 billion, a price-to-earnings ratio of 6.26, a P/E/G ratio of 3.30 and a beta of 0.86.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.14 by $0.12. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.67 billion. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.58) EPS. As a group, equities research analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were issued a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Tuesday, January 13th. GFL Environmental’s payout ratio is 0.88%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GFL. The Goldman Sachs Group started coverage on shares of GFL Environmental in a research report on Monday, November 24th. They issued a “neutral” rating and a $50.00 price target on the stock. Royal Bank Of Canada boosted their price objective on shares of GFL Environmental from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Weiss Ratings downgraded shares of GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. Wolfe Research started coverage on shares of GFL Environmental in a report on Friday, March 13th. They issued an “outperform” rating on the stock. Finally, Scotiabank reduced their price target on shares of GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.