Maven Securities LTD lifted its holdings in shares of GFL Environmental Inc. (NYSE:GFL – Free Report) by 18.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,198 shares of the company’s stock after acquiring an additional 22,551 shares during the period. Maven Securities LTD’s holdings in GFL Environmental were worth $5,268,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of GFL Environmental by 43.8% during the first quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock worth $77,064,000 after buying an additional 563,001 shares during the period. Legal & General Group Plc grew its stake in shares of GFL Environmental by 12.0% in the 4th quarter. Legal & General Group Plc now owns 1,225,212 shares of the company’s stock valued at $52,700,000 after purchasing an additional 131,332 shares during the last quarter. Verbena Value LP increased its holdings in shares of GFL Environmental by 44.7% in the first quarter. Verbena Value LP now owns 1,211,100 shares of the company’s stock valued at $50,527,000 after purchasing an additional 374,000 shares during the period. Vestcor Inc raised its stake in shares of GFL Environmental by 25.7% during the fourth quarter. Vestcor Inc now owns 391,815 shares of the company’s stock worth $16,828,000 after purchasing an additional 80,000 shares during the last quarter. Finally, Bornite Capital Management LP lifted its holdings in shares of GFL Environmental by 80.8% during the fourth quarter. Bornite Capital Management LP now owns 1,342,400 shares of the company’s stock worth $57,656,000 after purchasing an additional 600,000 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Barclays began coverage on shares of GFL Environmental in a research report on Wednesday, September 2nd. They set an “overweight” rating and a $58.00 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of GFL Environmental from $40.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, July 16th. Scotiabank restated an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, September 2nd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research report on Monday, August 31st. Finally, Zacks Research cut GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.25.
GFL Environmental Stock Down 2.0%
Shares of NYSE GFL opened at $42.85 on Wednesday. The stock has a market capitalization of $15.46 billion, a price-to-earnings ratio of -80.85, a price-to-earnings-growth ratio of 2.84 and a beta of 0.68. GFL Environmental Inc. has a 52 week low of $33.33 and a 52 week high of $48.28. The firm has a 50-day moving average price of $40.73 and a 200 day moving average price of $39.82. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.34.
GFL Environmental (NYSE:GFL – Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.33 billion. GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period last year, the business posted $0.26 earnings per share. Equities research analysts anticipate that GFL Environmental Inc. will post 0.65 EPS for the current fiscal year.
GFL Environmental Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 13th were given a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, July 13th. GFL Environmental’s payout ratio is presently -13.21%.
GFL Environmental Profile
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.
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