GFL Environmental Inc. $GFL Shares Newly Purchased by Guardian Partners Inc.

Guardian Partners Inc. bought a new position in GFL Environmental Inc. (NYSE:GFL) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 18,222 shares of the company’s stock, valued at approximately $763,000.

Several other large investors have also added to or reduced their stakes in the stock. QV Investors Inc. purchased a new position in GFL Environmental during the 3rd quarter valued at about $44,887,000. Bank of America Corp DE lifted its holdings in shares of GFL Environmental by 43.8% in the first quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock worth $77,064,000 after buying an additional 563,001 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of GFL Environmental by 68.7% in the first quarter. The Manufacturers Life Insurance Company now owns 1,158,643 shares of the company’s stock worth $48,309,000 after buying an additional 471,935 shares in the last quarter. Advent International L.P. lifted its holdings in shares of GFL Environmental by 117.1% in the first quarter. Advent International L.P. now owns 823,010 shares of the company’s stock worth $34,336,000 after buying an additional 443,918 shares in the last quarter. Finally, Verbena Value LP lifted its holdings in shares of GFL Environmental by 44.7% in the first quarter. Verbena Value LP now owns 1,211,100 shares of the company’s stock worth $50,527,000 after buying an additional 374,000 shares in the last quarter. Institutional investors own 64.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GFL shares. Wolfe Research began coverage on shares of GFL Environmental in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $77.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of GFL Environmental from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Wednesday. Scotiabank decreased their target price on shares of GFL Environmental from $57.00 to $55.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 15th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research note on Monday, August 31st. Finally, BMO Capital Markets reissued a “market perform” rating on shares of GFL Environmental in a report on Thursday, October 15th. Nine equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.56.

GFL Environmental Trading Down 2.0%

NYSE GFL opened at $43.58 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.34. The stock’s 50-day simple moving average is $42.28 and its two-hundred day simple moving average is $39.78. GFL Environmental Inc. has a twelve month low of $33.33 and a twelve month high of $47.01. The company has a market capitalization of $15.73 billion, a price-to-earnings ratio of -82.22, a PEG ratio of 3.42 and a beta of 0.72.

GFL Environmental (NYSE:GFL) last posted 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 during the quarter, compared to analysts’ expectations of $1.33 billion. GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%. GFL Environmental’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. Research analysts forecast that GFL Environmental Inc. will post 0.55 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be given a $0.0169 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. GFL Environmental’s payout ratio is presently -13.21%.

About GFL Environmental

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.