Pamalican Asset Management Ltd Takes $1.21 Million Position in GFL Environmental Inc. (NYSE:GFL)

Key Points

• Pamalican Asset Management Ltd has acquired a new stake in GFL Environmental Inc., purchasing 25,000 shares valued at approximately $1.2 million, which makes it the firm's 7th biggest position.
• GFL Environmental's shares decreased by 1.0% and currently trade at $49.83, with a market capitalization of $18.27 billion.
• The company recently announced a quarterly dividend of $0.0154 per share, reflecting an annualized dividend yield of 0.1%.

Pamalican Asset Management Ltd purchased a new position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 25,000 shares of the company's stock, valued at approximately $1,208,000. GFL Environmental makes up 1.6% of Pamalican Asset Management Ltd's portfolio, making the stock its 7th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Millstone Evans Group LLC grew its position in GFL Environmental by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock worth $27,000 after purchasing an additional 334 shares during the last quarter. Bessemer Group Inc. purchased a new position in GFL Environmental during the 1st quarter worth $28,000. LRI Investments LLC purchased a new position in GFL Environmental during the 1st quarter worth $34,000. Natixis purchased a new position in GFL Environmental during the 4th quarter worth $49,000. Finally, Harbor Investment Advisory LLC purchased a new position in GFL Environmental during the 1st quarter worth $53,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GFL has been the topic of several research reports. National Bank Financial raised shares of GFL Environmental to a "strong-buy" rating in a research report on Monday, May 26th. JPMorgan Chase & Co. assumed coverage on shares of GFL Environmental in a research report on Friday, May 23rd. They set a "neutral" rating and a $54.00 price objective on the stock. Royal Bank Of Canada lifted their target price on shares of GFL Environmental from $56.00 to $59.00 and gave the company an "outperform" rating in a report on Friday. Raymond James Financial reaffirmed an "outperform" rating and issued a $57.00 target price (up previously from $56.00) on shares of GFL Environmental in a report on Friday, May 2nd. Finally, Truist Financial lifted their target price on shares of GFL Environmental from $58.00 to $60.00 and gave the company a "buy" rating in a report on Friday. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $57.57.

GFL Environmental Trading Down 1.0%

GFL traded down $0.51 during trading on Friday, hitting $49.83. 1,309,113 shares of the company's stock were exchanged, compared to its average volume of 1,187,403. The firm has a market cap of $18.27 billion, a P/E ratio of 7.85 and a beta of 1.00. The stock has a 50 day moving average price of $48.97 and a 200 day moving average price of $47.59. The company has a current ratio of 0.67, a quick ratio of 0.82 and a debt-to-equity ratio of 0.89. GFL Environmental Inc. has a 1 year low of $37.58 and a 1 year high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.68 billion. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The business's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. As a group, analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 14th were paid a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a yield of 0.1%. GFL Environmental's payout ratio is 0.94%.

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.