GFL Environmental Inc. $GFL Shares Newly Acquired by QV Investors Inc.

QV Investors Inc. acquired a new stake in GFL Environmental Inc. (NYSE:GFL) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,071,792 shares of the company’s stock, valued at approximately $44,887,000. GFL Environmental makes up 3.3% of QV Investors Inc.’s portfolio, making the stock its 10th largest holding. QV Investors Inc. owned 0.30% of GFL Environmental at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new stake in GFL Environmental in the 2nd quarter worth approximately $31,000. Whipplewood Advisors LLC acquired a new position in GFL Environmental during the first quarter valued at approximately $32,000. GAMMA Investing LLC grew its holdings in GFL Environmental by 853.7% during the third quarter. GAMMA Investing LLC now owns 1,030 shares of the company’s stock valued at $43,000 after purchasing an additional 922 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of GFL Environmental by 36.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,335 shares of the company’s stock valued at $56,000 after purchasing an additional 360 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of GFL Environmental by 256.9% in the first quarter. Parallel Advisors LLC now owns 1,542 shares of the company’s stock valued at $64,000 after purchasing an additional 1,110 shares during the period. 64.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays initiated coverage on shares of GFL Environmental in a research note on Wednesday, September 2nd. They issued an “overweight” rating and a $58.00 price objective for the company. Weiss Ratings upgraded shares of GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. Citigroup set a $51.00 price target on GFL Environmental and gave the company a “buy” rating in a research report on Wednesday, October 14th. Wolfe Research began coverage on GFL Environmental in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $77.00 price objective on the stock. Finally, TD Cowen reissued a “buy” rating and set a $65.00 price objective on shares of GFL Environmental in a research report on Friday, September 11th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.44.

GFL Environmental Price Performance

Shares of GFL stock opened at $44.43 on Wednesday. The stock has a 50 day moving average of $42.23 and a two-hundred day moving average of $39.79. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34. GFL Environmental Inc. has a 12 month low of $33.33 and a 12 month high of $47.01. The company has a market capitalization of $16.03 billion, a P/E ratio of -83.83, a P/E/G ratio of 3.43 and a beta of 0.72.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data 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 firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.33 billion. GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. As a group, equities analysts expect that GFL Environmental Inc. will post 0.55 EPS for the current year.

GFL Environmental Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be issued a $0.0169 dividend. This represents a $0.07 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 14th. GFL Environmental’s payout ratio is -13.21%.

GFL Environmental Profile

GFL Environmental Inc is a Canadian environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste, as well as organics and other resource-recovery services.

GFL also provides infrastructure and soil remediation services, including the management of contaminated materials and related environmental projects.