GFL Environmental Inc. $GFL Stock Position Raised by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC boosted its stake in GFL Environmental Inc. (NYSE:GFL) by 785.0% in the third quarter, HoldingsChannel reports. The firm owned 72,349 shares of the company’s stock after acquiring an additional 64,174 shares during the period. Cardinal Point Capital Management ULC’s holdings in GFL Environmental were worth $3,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new stake in GFL Environmental during the 2nd quarter valued at $31,000. Whipplewood Advisors LLC bought a new position in shares of GFL Environmental during the 1st quarter valued at $32,000. GAMMA Investing LLC lifted its holdings in shares of GFL Environmental by 853.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,030 shares of the company’s stock valued at $43,000 after buying an additional 922 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of GFL Environmental by 36.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,335 shares of the company’s stock worth $56,000 after buying an additional 360 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of GFL Environmental by 256.9% in the 1st quarter. Parallel Advisors LLC now owns 1,542 shares of the company’s stock worth $64,000 after buying an additional 1,110 shares during the last quarter. Institutional investors own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Scotiabank cut their price objective on GFL Environmental from $57.00 to $55.00 and set a “sector outperform” rating for the company in a report on Thursday, October 15th. TD Cowen reiterated a “buy” rating and set a $65.00 price objective on shares of GFL Environmental in a research report on Friday, September 11th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a report on Monday, August 31st. Barclays started coverage on GFL Environmental in a report on Wednesday, September 2nd. They issued an “overweight” rating and a $58.00 target price on the stock. Finally, Citigroup set a $51.00 target price on GFL Environmental and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, GFL Environmental currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.56.

GFL Environmental Stock Performance

Shares of NYSE GFL opened at $43.58 on Thursday. The firm has a 50 day moving average of $42.28 and a 200 day moving average of $39.78. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $15.73 billion, a price-to-earnings ratio of -82.22, a price-to-earnings-growth ratio of 3.42 and a beta of 0.72. GFL Environmental Inc. has a 12-month low of $33.33 and a 12-month high of $47.01.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). The company 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 period in the prior year, the firm posted $0.26 EPS. On average, research analysts anticipate that GFL Environmental Inc. will post 0.55 earnings per share for the current year.

GFL Environmental Dividend Announcement

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 paid a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Wednesday, October 14th. GFL Environmental’s dividend payout ratio is presently -13.21%.

GFL Environmental Company 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.