CenterBook Partners LP Sells 10,214 Shares of GFL Environmental Inc. (NYSE:GFL)

Key Points

• CenterBook Partners LP has reduced its stake in GFL Environmental Inc. (NYSE:GFL) by 45.6%, selling 10,214 shares and now holding 12,194 shares valued at $589,000.
• Analysts have a positive outlook on GFL Environmental, with multiple firms raising their price targets, and the stock receiving an average rating of "Buy" with a target price of $57.86.
• GFL Environmental reported a quarterly earnings per share of $0.19, meeting expectations, and announced a recent dividend of $0.0154 per share, reflecting a low annual yield.

CenterBook Partners LP reduced its position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 45.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,194 shares of the company's stock after selling 10,214 shares during the period. CenterBook Partners LP's holdings in GFL Environmental were worth $589,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Millstone Evans Group LLC boosted its stake in shares of GFL Environmental by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock valued at $27,000 after purchasing an additional 334 shares in the last quarter. Bessemer Group Inc. purchased a new stake in GFL Environmental in the first quarter worth about $28,000. LRI Investments LLC bought a new stake in GFL Environmental during the 1st quarter valued at approximately $34,000. Natixis purchased a new position in shares of GFL Environmental during the 4th quarter worth approximately $49,000. Finally, Harbor Investment Advisory LLC bought a new position in shares of GFL Environmental in the 1st quarter worth approximately $53,000. 64.70% of the stock is owned by institutional investors.

GFL Environmental Stock Up 1.0%

NYSE GFL traded up $0.50 during mid-day trading on Monday, reaching $51.00. The stock had a trading volume of 881,319 shares, compared to its average volume of 1,669,199. The stock has a market cap of $18.70 billion, a PE ratio of 8.03 and a beta of 1.00. GFL Environmental Inc. has a 1 year low of $38.78 and a 1 year 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 company has a fifty day moving average price of $49.06 and a 200 day moving average price of $47.89.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the company earned $0.29 EPS. The company's quarterly revenue was up 5.9% compared to the same quarter last year. On average, research 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 announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 14th were issued a $0.0154 dividend. This represents a $0.06 annualized dividend and a yield of 0.1%. GFL Environmental's dividend payout ratio is currently 0.94%.

Analyst Ratings Changes

A number of research firms have recently commented on GFL. Seaport Res Ptn upgraded GFL Environmental to a "strong-buy" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. began coverage on GFL Environmental in a research report on Friday, May 23rd. They set a "neutral" rating and a $54.00 price objective for the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $57.00 target price (up from $56.00) on shares of GFL Environmental in a research report on Friday, May 2nd. Citigroup increased their price target on shares of GFL Environmental from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Finally, Scotiabank upped their price objective on shares of GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GFL Environmental has an average rating of "Buy" and a consensus 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.