Aigen Investment Management LP Invests $578,000 in GFL Environmental Inc. (NYSE:GFL)

Key Points

• Aigen Investment Management LP has acquired a new position in GFL Environmental Inc., purchasing 11,971 shares valued at approximately $578,000.
• Several institutional investors, including Capital Research Global Investors and Vanguard Group, have recently increased their stakes in GFL Environmental, indicating strong interest in the stock.
• Analysts have issued a mixed but generally positive outlook for GFL Environmental, with most rating it as a "Buy" and raising price targets, while the average target price stands at $57.86.

Aigen Investment Management LP acquired a new position in GFL Environmental Inc. (NYSE:GFL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 11,971 shares of the company's stock, valued at approximately $578,000.

A number of other large investors also recently modified their holdings of GFL. Bessemer Group Inc. purchased a new stake in shares of GFL Environmental during the 1st quarter valued at about $28,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of GFL Environmental during the 1st quarter valued at about $385,000. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 355,790 shares during the period. Bank of New York Mellon Corp grew its stake in GFL Environmental by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 192,306 shares of the company's stock valued at $9,290,000 after purchasing an additional 4,981 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in GFL Environmental during the 4th quarter valued at approximately $753,000. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Raymond James Financial restated an "outperform" rating and set a $57.00 price objective (up previously from $56.00) on shares of GFL Environmental in a research note on Friday, May 2nd. Scotiabank raised their price objective on GFL Environmental from $56.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Friday, August 1st. National Bank Financial upgraded GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. Truist Financial raised their price objective on GFL Environmental from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Seaport Res Ptn upgraded GFL Environmental to a "strong-buy" rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $57.86.

GFL Environmental Stock Performance

Shares of NYSE GFL traded down $0.64 during mid-day trading on Friday, hitting $49.56. The company had a trading volume of 988,467 shares, compared to its average volume of 1,176,319. The stock has a market cap of $18.01 billion, a price-to-earnings ratio of 7.80 and a beta of 1.00. GFL Environmental Inc. has a 12 month low of $38.78 and a 12 month high of $52.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.67 and a quick ratio of 0.67. The firm's 50 day simple moving average is $49.14 and its two-hundred day simple moving average is $48.08.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. GFL Environmental had a return on equity of 3.71% and a net margin of 48.53%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the business posted $0.29 EPS. The business's revenue was up 5.9% on a year-over-year basis. As a group, equities research analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 14th 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%. GFL Environmental's dividend payout ratio (DPR) is presently 0.94%.

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.