GFL Environmental Inc. (NYSE:GFL) Shares Bought by Progeny 3 Inc.

Progeny 3 Inc. grew its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 14.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,018,300 shares of the company’s stock after purchasing an additional 125,000 shares during the quarter. GFL Environmental makes up about 3.6% of Progeny 3 Inc.’s portfolio, making the stock its 13th biggest holding. Progeny 3 Inc.’s holdings in GFL Environmental were worth $45,355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GFL. Erste Asset Management GmbH boosted its position in shares of GFL Environmental by 2.0% during the 4th quarter. Erste Asset Management GmbH now owns 13,371 shares of the company’s stock valued at $597,000 after acquiring an additional 261 shares during the last quarter. Metis Global Partners LLC raised its holdings in GFL Environmental by 5.4% in the 4th quarter. Metis Global Partners LLC now owns 5,790 shares of the company’s stock valued at $258,000 after buying an additional 298 shares during the period. Blue Trust Inc. raised its holdings in GFL Environmental by 124.9% in the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after buying an additional 306 shares during the period. US Bancorp DE raised its holdings in GFL Environmental by 12.5% in the 4th quarter. US Bancorp DE now owns 2,890 shares of the company’s stock valued at $129,000 after buying an additional 321 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in GFL Environmental by 1.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 31,503 shares of the company’s stock worth $1,403,000 after purchasing an additional 351 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Stock Down 0.8%

GFL stock opened at $47.72 on Thursday. The company’s 50 day moving average price is $47.99 and its 200 day moving average price is $45.81. 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 fifty-two week low of $30.57 and a fifty-two week high of $52.00. The firm has a market capitalization of $18.77 billion, a price-to-earnings ratio of -35.88 and a beta of 1.08.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.52 billion. The business’s revenue for the quarter was down 13.4% compared to the same quarter last year. On average, equities research analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 14th were issued a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.13%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio is 1.23%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GFL shares. Raymond James reiterated an “outperform” rating and set a $57.00 price target (up from $56.00) on shares of GFL Environmental in a research note on Friday, May 2nd. Stifel Nicolaus upgraded shares of GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. National Bankshares reiterated an “outperform” rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Scotiabank reiterated an “outperform” rating on shares of GFL Environmental in a research note on Monday, May 5th. Finally, Citigroup boosted their price target on shares of GFL Environmental from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $54.57.

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.