Colonial River Investments LLC Buys Shares of 33,277 GFL Environmental Inc. (NYSE:GFL)

Colonial River Investments LLC bought a new stake in GFL Environmental Inc. (NYSE:GFL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,277 shares of the company's stock, valued at approximately $1,608,000. GFL Environmental accounts for about 0.9% of Colonial River Investments LLC's holdings, making the stock its 27th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in shares of GFL Environmental by 124.9% in the 4th quarter. Blue Trust Inc. now owns 551 shares of the company's stock valued at $25,000 after acquiring an additional 306 shares during the period. Bessemer Group Inc. acquired a new stake in GFL Environmental in the first quarter worth $28,000. Natixis acquired a new stake in GFL Environmental during the 4th quarter worth $49,000. Harbor Investment Advisory LLC acquired a new stake in GFL Environmental during the 1st quarter worth $53,000. Finally, Versant Capital Management Inc raised its stake in GFL Environmental by 3,470.3% during the 1st quarter. Versant Capital Management Inc now owns 1,321 shares of the company's stock worth $64,000 after buying an additional 1,284 shares during the period. Institutional investors and hedge funds own 64.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. National Bank Financial raised GFL Environmental to a "strong-buy" rating in a research report on Monday, May 26th. Royal Bank Of Canada raised their target price on shares of GFL Environmental from $53.00 to $56.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Citigroup raised their price objective on shares of GFL Environmental from $53.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Truist Financial raised their price objective on shares of GFL Environmental from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, April 2nd. Finally, National Bankshares reissued an "outperform" rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $54.50.

GFL Environmental Price Performance

NYSE:GFL opened at $49.71 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.82 and a current ratio of 0.82. The stock's 50-day simple moving average is $49.58 and its 200 day simple moving average is $46.93. The company has a market cap of $18.23 billion, a P/E ratio of 10.19 and a beta of 1.04. GFL Environmental Inc. has a 52-week low of $37.00 and a 52-week high of $52.00.

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

GFL Environmental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th were paid a dividend of $0.0154 per share. This is a positive change from GFL Environmental's previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. GFL Environmental's payout ratio is currently 1.23%.

About GFL Environmental

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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