GFL Environmental Inc. $GFL is Verbena Value LP’s 3rd Largest Position

Verbena Value LP grew its position in shares of GFL Environmental Inc. (NYSE:GFL) by 44.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,211,100 shares of the company’s stock after buying an additional 374,000 shares during the quarter. GFL Environmental accounts for 8.3% of Verbena Value LP’s holdings, making the stock its 3rd biggest position. Verbena Value LP’s holdings in GFL Environmental were worth $50,527,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after buying an additional 219 shares during the last quarter. Advisory Services Network LLC increased its position in shares of GFL Environmental by 4.1% during the third quarter. Advisory Services Network LLC now owns 6,537 shares of the company’s stock valued at $310,000 after acquiring an additional 256 shares during the last quarter. Tobam lifted its holdings in GFL Environmental by 10.5% during the fourth quarter. Tobam now owns 3,079 shares of the company’s stock worth $132,000 after acquiring an additional 293 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in GFL Environmental by 45.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after acquiring an additional 304 shares during the period. Finally, Engineers Gate Manager LP boosted its position in GFL Environmental by 6.8% in the second quarter. Engineers Gate Manager LP now owns 5,187 shares of the company’s stock worth $262,000 after purchasing an additional 331 shares during the last quarter. Institutional investors own 64.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GFL shares. Citigroup set a $51.00 price objective on GFL Environmental and gave the company a “buy” rating in a research note on Monday, July 6th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Weiss Ratings lowered shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. reduced their price target on shares of GFL Environmental from $42.00 to $40.00 and set an “underweight” rating for the company in a research report on Monday, July 6th. Finally, Scotiabank decreased their price objective on shares of 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 analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.78.

GFL Environmental Trading Up 0.0%

Shares of GFL Environmental stock opened at $39.75 on Monday. GFL Environmental Inc. has a 52-week low of $33.33 and a 52-week high of $51.51. The stock’s 50-day simple moving average is $36.61 and its 200 day simple moving average is $40.42. The stock has a market capitalization of $14.26 billion, a P/E ratio of 124.23, a P/E/G ratio of 2.85 and a beta of 0.70. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) earnings per share. As a group, research analysts anticipate that GFL Environmental Inc. will post 0.59 EPS for the current year.

GFL Environmental Dividend Announcement

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

GFL Environmental Company 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.