Acuitas Investments LLC Purchases New Shares in GFL Environmental Inc. (NYSE:GFL)

Acuitas Investments LLC acquired a new position in GFL Environmental Inc. (NYSE:GFL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,300 shares of the company's stock, valued at approximately $2,044,000. GFL Environmental comprises approximately 1.7% of Acuitas Investments LLC's holdings, making the stock its 28th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in GFL. Raymond James Financial Inc. acquired a new position in GFL Environmental during the fourth quarter valued at approximately $18,836,000. Steward Partners Investment Advisory LLC grew its holdings in GFL Environmental by 350.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company's stock valued at $107,000 after purchasing an additional 1,867 shares during the last quarter. Geode Capital Management LLC boosted its stake in GFL Environmental by 38.7% during the 4th quarter. Geode Capital Management LLC now owns 1,274,496 shares of the company's stock valued at $56,496,000 after purchasing an additional 355,790 shares during the period. Paralel Advisors LLC acquired a new stake in shares of GFL Environmental in the fourth quarter worth $44,540,000. Finally, Amundi grew its stake in shares of GFL Environmental by 9.2% in the fourth quarter. Amundi now owns 124,027 shares of the company's stock worth $5,550,000 after acquiring an additional 10,428 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of GFL Environmental from $53.00 to $56.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. initiated coverage on shares of GFL Environmental in a research note on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price objective on the stock. National Bank Financial raised GFL Environmental to a "strong-buy" rating in a research report on Monday, May 26th. Scotiabank reaffirmed an "outperform" rating on shares of GFL Environmental in a research report on Monday, May 5th. Finally, Seaport Res Ptn raised GFL Environmental to a "strong-buy" rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $54.50.

GFL Environmental Price Performance

Shares of NYSE GFL traded down $0.14 during midday trading on Friday, reaching $48.23. 1,076,642 shares of the company traded hands, compared to its average volume of 1,459,835. The firm has a market cap of $17.69 billion, a PE ratio of 9.88 and a beta of 1.03. The stock's 50-day simple moving average is $49.68 and its 200-day simple moving average is $47.03. GFL Environmental Inc. has a 12 month low of $37.00 and a 12 month high of $52.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.82 and a current ratio of 0.82.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.10). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.52 billion. GFL Environmental had a net margin of 36.01% and a return on equity of 3.93%. GFL Environmental's revenue was down 13.4% compared to the same quarter last year. As a group, equities analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 14th will be issued a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. GFL Environmental's payout ratio is presently 1.23%.

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.