GFL Environmental Inc. $GFL Shares Newly Purchased by Generate Investment Management Ltd

Key Points

• Generate Investment Management acquired 141,155 GFL Environmental shares in the third quarter, worth approximately $5.9 million. Institutional investors and hedge funds collectively own 64.7% of the company.
• GFL shares recently traded at $42.58, down 0.4%, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $57.67.
• The company reported quarterly revenue of $1.37 billion, up 16.3% year over year, but earnings of $0.14 per share missed estimates of $0.17. GFL also announced a quarterly dividend of $0.0169 per share.

Generate Investment Management Ltd acquired a new stake in GFL Environmental Inc. (NYSE:GFL - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 141,155 shares of the company's stock, valued at approximately $5,905,000.

A number of other hedge funds have also made changes to their positions in the stock. Copeland Capital Management LLC boosted its holdings in GFL Environmental by 15.9% during the third quarter. Copeland Capital Management LLC now owns 619,699 shares of the company's stock worth $25,922,000 after buying an additional 84,803 shares in the last quarter. Montrusco Bolton Investments Inc. acquired a new position in GFL Environmental in the 3rd quarter valued at approximately $1,361,000. Sax Wealth Advisors LLC purchased a new stake in shares of GFL Environmental during the third quarter worth $735,000. GAMMA Investing LLC raised its stake in shares of GFL Environmental by 853.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,030 shares of the company's stock worth $43,000 after purchasing an additional 922 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in GFL Environmental by 40.4% in the third quarter. Versant Capital Management Inc now owns 2,527 shares of the company's stock valued at $106,000 after acquiring an additional 727 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company's stock.

GFL Environmental Trading Down 0.4%

Shares of GFL stock traded down $0.17 during trading hours on Wednesday, reaching $42.58. The company had a trading volume of 1,470,886 shares, compared to its average volume of 2,434,760. The company has a 50 day moving average of $41.97 and a 200 day moving average of $39.68. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $15.37 billion, a price-to-earnings ratio of -80.32, a P/E/G ratio of 3.12 and a beta of 0.72. GFL Environmental Inc. has a 1-year low of $33.33 and a 1-year high of $47.01.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.03). GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the business earned $0.26 EPS. The company's revenue for the quarter was up 16.3% compared to the same quarter last year. On average, equities research analysts anticipate that GFL Environmental Inc. will post 0.57 EPS for the current year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be paid a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 14th. GFL Environmental's dividend payout ratio is presently -13.21%.

Analyst Upgrades and Downgrades

GFL has been the topic of a number of analyst reports. Wolfe Research assumed coverage on GFL Environmental in a report on Tuesday, September 15th. They set an "outperform" rating and a $77.00 price objective on the stock. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of GFL Environmental in a research report on Monday, August 31st. Barclays initiated coverage on shares of GFL Environmental in a report on Wednesday, September 2nd. They issued an "overweight" rating and a $58.00 price target on the stock. TD Cowen reiterated a "buy" rating and set a $65.00 price objective on shares of GFL Environmental in a research note on Friday, September 11th. Finally, Weiss Ratings upgraded shares of GFL Environmental from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, August 26th. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $57.67.

GFL Environmental Profile

GFL Environmental Inc is a North American environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company's operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste.

GFL also provides recycling and organics management services, including the processing of recyclable materials and organic waste. Its environmental services include liquid waste management, soil remediation, infrastructure services and other specialized solutions for industrial and commercial customers.

Founded in 2007, GFL is headquartered in Vaughan, Ontario, and serves communities and customers across Canada and the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.