Lansforsakringar Fondforvaltning AB publ Makes New $2.20 Million Investment in GFL Environmental Inc. (NYSE:GFL)

Lansforsakringar Fondforvaltning AB publ acquired a new stake in GFL Environmental Inc. (NYSE:GFL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 49,463 shares of the company's stock, valued at approximately $2,203,000.

A number of other hedge funds also recently made changes to their positions in the business. Erste Asset Management GmbH increased its position in shares of GFL Environmental by 2.0% during the 4th quarter. Erste Asset Management GmbH now owns 13,371 shares of the company's stock worth $597,000 after purchasing an additional 261 shares in the last quarter. Metis Global Partners LLC increased its position in shares of GFL Environmental by 5.4% during the 4th quarter. Metis Global Partners LLC now owns 5,790 shares of the company's stock worth $258,000 after purchasing an additional 298 shares in the last quarter. Blue Trust Inc. increased its position in shares of GFL Environmental by 124.9% during the 4th quarter. Blue Trust Inc. now owns 551 shares of the company's stock worth $25,000 after purchasing an additional 306 shares in the last quarter. US Bancorp DE increased its position in shares of GFL Environmental by 12.5% during the 4th quarter. US Bancorp DE now owns 2,890 shares of the company's stock worth $129,000 after purchasing an additional 321 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of GFL Environmental by 1.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 31,503 shares of the company's stock worth $1,403,000 after purchasing an additional 351 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company's stock.

GFL Environmental Trading Up 2.4%

GFL Environmental stock traded up $1.18 during midday trading on Friday, hitting $50.43. 1,686,527 shares of the stock were exchanged, compared to its average volume of 1,523,439. The company has a fifty day simple moving average of $48.57 and a two-hundred day simple moving average of $46.37. GFL Environmental Inc. has a 52 week low of $32.55 and a 52 week high of $52.00. The stock has a market capitalization of $18.49 billion, a PE ratio of -37.92 and a beta of 1.08. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings data 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). GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.52 billion. GFL Environmental's revenue for the quarter was down 13.4% on a year-over-year basis. Equities research analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th were paid a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. This is a positive change from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's payout ratio is presently 1.23%.

Analysts Set New Price Targets

A number of equities research analysts have commented on GFL shares. Citigroup increased 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. Stifel Nicolaus raised shares of GFL Environmental from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Scotiabank reissued an "outperform" rating on shares of GFL Environmental in a report on Monday, May 5th. UBS Group raised their target price on shares of GFL Environmental from $50.00 to $57.00 and gave the company a "buy" rating in a research note on Friday, April 4th. Finally, JPMorgan Chase & Co. started coverage on shares of GFL Environmental in a research note on Friday, May 23rd. They issued a "neutral" rating and a $54.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, GFL Environmental has a consensus rating of "Buy" and a consensus price target of $54.50.

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.