Wellington Management Group LLP Makes New Investment in GFL Environmental Inc. (NYSE:GFL)

Wellington Management Group LLP purchased a new position in shares of GFL Environmental Inc. (NYSE:GFL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,095,697 shares of the company’s stock, valued at approximately $93,343,000.

A number of other large investors have also made changes to their positions in GFL. Lansforsakringar Fondforvaltning AB publ acquired a new position in GFL Environmental during the fourth quarter worth $2,203,000. Polar Asset Management Partners Inc. raised its stake in shares of GFL Environmental by 241.7% during the 4th quarter. Polar Asset Management Partners Inc. now owns 119,951 shares of the company’s stock worth $5,344,000 after buying an additional 84,851 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of GFL Environmental by 74.2% in the 4th quarter. Mackenzie Financial Corp now owns 231,348 shares of the company’s stock worth $10,302,000 after buying an additional 98,539 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in GFL Environmental by 21.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 18,985 shares of the company’s stock valued at $846,000 after acquiring an additional 3,295 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in GFL Environmental by 151.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 444,684 shares of the company’s stock valued at $19,806,000 after acquiring an additional 267,932 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Performance

NYSE GFL opened at $48.16 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $18.94 billion, a PE ratio of -36.21 and a beta of 1.09. The business’s 50-day moving average price is $46.10 and its 200 day moving average price is $44.13. GFL Environmental Inc. has a twelve month low of $30.57 and a twelve month high of $49.35.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.98 billion. On average, research analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be paid a dividend of $0.0154 per share. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental’s payout ratio is currently -3.23%.

Wall Street Analyst Weigh In

Several research firms have recently commented on GFL. Citigroup increased their price target on shares of GFL Environmental from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 price target on shares of GFL Environmental in a report on Monday, February 24th. Stifel Nicolaus upgraded GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. National Bankshares reiterated an “outperform” rating on shares of GFL Environmental in a research report on Tuesday, March 11th. Finally, Truist Financial upped their target price on shares of GFL Environmental from $54.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.50.

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.