Munro Partners Purchases New Shares in GFL Environmental Inc. $GFL

Munro Partners purchased a new position in shares of GFL Environmental Inc. (NYSE:GFL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 256,167 shares of the company’s stock, valued at approximately $12,926,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GFL. Boussard & Gavaudan Investment Management LLP increased its position in shares of GFL Environmental by 14.3% during the second quarter. Boussard & Gavaudan Investment Management LLP now owns 66,058 shares of the company’s stock worth $3,299,000 after acquiring an additional 8,288 shares during the last quarter. Hudson Bay Capital Management LP grew its stake in GFL Environmental by 823.0% during the 2nd quarter. Hudson Bay Capital Management LP now owns 197,366 shares of the company’s stock valued at $9,959,000 after purchasing an additional 224,666 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in GFL Environmental by 10.2% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 96,188 shares of the company’s stock worth $4,803,000 after purchasing an additional 8,898 shares during the last quarter. SkyView Investment Advisors LLC raised its position in shares of GFL Environmental by 2.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 23,068 shares of the company’s stock valued at $1,147,000 after purchasing an additional 443 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of GFL Environmental by 11.5% during the 2nd quarter. Tidal Investments LLC now owns 19,867 shares of the company’s stock valued at $1,002,000 after buying an additional 2,056 shares during the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GFL shares. Citigroup lifted their price target on shares of GFL Environmental from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Barclays assumed coverage on shares of GFL Environmental in a research report on Friday, September 19th. They issued an “overweight” rating and a $62.00 target price for the company. UBS Group upped their target price on shares of GFL Environmental from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 10th. William Blair began coverage on GFL Environmental in a research note on Thursday, September 25th. They issued an “outperform” rating for the company. Finally, The Goldman Sachs Group assumed coverage on GFL Environmental in a report on Monday, November 24th. They issued a “neutral” rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, GFL Environmental currently has an average rating of “Buy” and a consensus target price of $57.08.

GFL Environmental Trading Down 1.0%

GFL Environmental stock opened at $44.16 on Friday. GFL Environmental Inc. has a 1 year low of $41.29 and a 1 year high of $52.00. The firm’s 50-day moving average is $44.85 and its 200-day moving average is $47.40. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $16.04 billion, a P/E ratio of 6.92 and a beta of 0.89.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). GFL Environmental had a return on equity of 3.06% and a net margin of 50.99%.The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the company earned $0.33 EPS. GFL Environmental’s revenue was up 9.0% compared to the same quarter last year. On average, equities analysts expect that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th were given a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Wednesday, October 15th. GFL Environmental’s dividend payout ratio is presently 0.94%.

GFL Environmental Company 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.