Maverick Capital Ltd. Increases Position in GFL Environmental Inc. (NYSE:GFL)

Maverick Capital Ltd. raised its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 11.3% in the third quarter, Holdings Channel.com reports. The firm owned 3,658,190 shares of the company’s stock after buying an additional 372,534 shares during the period. GFL Environmental comprises approximately 2.8% of Maverick Capital Ltd.’s investment portfolio, making the stock its 10th biggest holding. Maverick Capital Ltd.’s holdings in GFL Environmental were worth $145,889,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Seven Grand Managers LLC bought a new position in shares of GFL Environmental during the third quarter valued at about $1,994,000. Harbor Capital Advisors Inc. lifted its position in shares of GFL Environmental by 115.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 49,566 shares of the company’s stock worth $1,977,000 after buying an additional 26,542 shares in the last quarter. Copeland Capital Management LLC boosted its stake in shares of GFL Environmental by 2.2% in the 3rd quarter. Copeland Capital Management LLC now owns 921,377 shares of the company’s stock worth $36,745,000 after buying an additional 19,675 shares during the last quarter. FMR LLC grew its holdings in shares of GFL Environmental by 7.4% in the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock valued at $1,003,591,000 after acquiring an additional 1,728,598 shares in the last quarter. Finally, Forsta AP Fonden purchased a new stake in shares of GFL Environmental during the third quarter valued at approximately $1,761,000. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Stock Performance

NYSE:GFL opened at $47.08 on Friday. The business’s fifty day moving average is $42.34 and its 200 day moving average is $39.69. The firm has a market cap of $18.52 billion, a price-to-earnings ratio of -35.40 and a beta of 1.15. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. GFL Environmental Inc. has a 52-week low of $27.64 and a 52-week high of $47.16.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Research analysts predict that GFL Environmental Inc. will post 0.59 EPS for the current year.

GFL Environmental Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.