NewGen Asset Management Ltd Makes New $3.99 Million Investment in GFL Environmental Inc. (NYSE:GFL)

NewGen Asset Management Ltd purchased a new stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 82,500 shares of the company's stock, valued at approximately $3,986,000. GFL Environmental accounts for 2.6% of NewGen Asset Management Ltd's portfolio, making the stock its 14th largest holding.

Several other hedge funds have also recently bought and sold shares of GFL. Blue Trust Inc. grew its stake in shares of GFL Environmental by 124.9% in the fourth 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. Natixis purchased a new position in shares of GFL Environmental during the fourth quarter valued at $49,000. Harbor Investment Advisory LLC purchased a new stake in shares of GFL Environmental in the first quarter worth approximately $53,000. Versant Capital Management Inc raised its position in GFL Environmental by 3,470.3% during the first quarter. Versant Capital Management Inc now owns 1,321 shares of the company's stock valued at $64,000 after acquiring an additional 1,284 shares in the last quarter. Finally, SRH Advisors LLC bought a new stake in shares of GFL Environmental during the 4th quarter worth about $89,000. Hedge funds and other institutional investors own 64.70% of the company's stock.

Analyst Upgrades and Downgrades

GFL has been the subject of a number of recent research reports. Scotiabank restated an "outperform" rating on shares of GFL Environmental in a research note on Monday, May 5th. Citigroup boosted their price objective on shares of GFL Environmental from $53.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. National Bankshares reiterated an "outperform" rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Stifel Nicolaus raised GFL Environmental from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Finally, Seaport Res Ptn upgraded GFL Environmental to a "strong-buy" rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $54.50.

GFL Environmental Price Performance

Shares of NYSE GFL traded down $0.54 during mid-day trading on Friday, hitting $50.22. 580,453 shares of the stock traded hands, compared to its average volume of 1,443,871. The company has a market cap of $18.42 billion, a PE ratio of -37.76 and a beta of 1.04. GFL Environmental Inc. has a twelve month low of $37.00 and a twelve month high of $52.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a 50 day simple moving average of $49.18 and a two-hundred day simple moving average of $46.69.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported ($0.06) EPS 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 company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.52 billion. The firm's revenue was down 13.4% on a year-over-year basis. As a group, equities research analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Increases Dividend

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

GFL Environmental Company 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.