Elevation Point Wealth Partners LLC Takes Position in GFL Environmental Inc. $GFL

Elevation Point Wealth Partners LLC acquired a new stake in shares of GFL Environmental Inc. (NYSE:GFL) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,221 shares of the company’s stock, valued at approximately $635,000.

Several other large investors also recently bought and sold shares of GFL. Capital Research Global Investors lifted its stake in GFL Environmental by 17.6% during the 4th quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock valued at $939,043,000 after acquiring an additional 3,267,936 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of GFL Environmental by 9.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,201,976 shares of the company’s stock valued at $481,125,000 after acquiring an additional 977,344 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of GFL Environmental by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 11,156,675 shares of the company’s stock worth $479,255,000 after acquiring an additional 97,020 shares during the period. Pictet Asset Management Holding SA grew its stake in shares of GFL Environmental by 2.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,511,198 shares of the company’s stock worth $365,595,000 after acquiring an additional 185,169 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of GFL Environmental by 40.8% during the fourth quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock valued at $290,083,000 after purchasing an additional 1,932,442 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Price Performance

Shares of NYSE:GFL opened at $41.44 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $14.86 billion, a PE ratio of 129.51, a price-to-earnings-growth ratio of 3.15 and a beta of 0.70. The firm’s 50 day moving average price is $36.60 and its 200-day moving average price is $40.49. GFL Environmental Inc. has a twelve month low of $33.33 and a twelve month high of $51.51.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business posted ($0.09) earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that GFL Environmental Inc. will post 0.54 EPS for the current year.

GFL Environmental Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be given a dividend of $0.0169 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. GFL Environmental’s payout ratio is presently 21.88%.

Wall Street Analyst Weigh In

GFL has been the topic of several research reports. JPMorgan Chase & Co. dropped their target price on shares of GFL Environmental from $42.00 to $40.00 and set an “underweight” rating on the stock in a report on Monday. Wolfe Research assumed coverage on shares of GFL Environmental in a research note on Friday, March 13th. They set an “outperform” rating for the company. Zacks Research cut GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Finally, Scotiabank cut their price objective on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.78.

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.