Burkehill Global Management LP Makes New $9.66 Million Investment in GFL Environmental Inc. (NYSE:GFL)

Key Points

• Burkehill Global Management LP has invested approximately $9.66 million into GFL Environmental Inc., acquiring 200,000 shares to increase its stake to around 0.05%.
• GFL Environmental experienced a slight decrease in stock price, down 0.8%, with shares opening at $50.51, and the company reported a net margin of 48.53% for the last quarter.
• Analysts maintain a consensus "Buy" rating for GFL Environmental, with a raised average price target of $57.86.

Burkehill Global Management LP bought a new position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 200,000 shares of the company's stock, valued at approximately $9,662,000. Burkehill Global Management LP owned about 0.05% of GFL Environmental at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GFL. Geode Capital Management LLC boosted its holdings in GFL Environmental by 38.7% during the fourth quarter. Geode Capital Management LLC now owns 1,274,496 shares of the company's stock worth $56,496,000 after buying an additional 355,790 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in GFL Environmental by 16.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 207,157 shares of the company's stock worth $9,227,000 after buying an additional 29,467 shares during the last quarter. APG Asset Management N.V. bought a new position in GFL Environmental during the fourth quarter worth about $7,441,000. Raymond James Financial Inc. bought a new position in GFL Environmental during the fourth quarter worth about $18,836,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in GFL Environmental by 0.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 42,153 shares of the company's stock worth $1,878,000 after buying an additional 375 shares during the last quarter. Institutional investors own 64.70% of the company's stock.

GFL Environmental Stock Down 0.8%

Shares of GFL Environmental stock opened at $50.51 on Friday. The business's 50 day simple moving average is $49.06 and its 200 day simple moving average is $47.85. GFL Environmental Inc. has a 52-week low of $38.29 and a 52-week high of $52.00. The firm has a market cap of $18.52 billion, a PE ratio of 7.95 and a beta of 1.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.82 and a current ratio of 0.67.

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

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 14th were given a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental's dividend payout ratio (DPR) is 0.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Seaport Res Ptn upgraded GFL Environmental to a "strong-buy" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. assumed coverage on GFL Environmental in a report on Friday, May 23rd. They set a "neutral" rating and a $54.00 price objective on the stock. Truist Financial lifted their price objective on GFL Environmental from $58.00 to $60.00 and gave the company a "buy" rating in a report on Friday, August 1st. Royal Bank Of Canada lifted their price objective on GFL Environmental from $56.00 to $59.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, National Bank Financial upgraded GFL Environmental to a "strong-buy" rating in a report on Monday, May 26th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, GFL Environmental has a consensus rating of "Buy" and an average price target of $57.86.

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.

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