Triasima Portfolio Management inc. Makes New Investment in GFL Environmental Inc. (NYSE:GFL)

Triasima Portfolio Management inc. purchased a new position in GFL Environmental Inc. (NYSE:GFL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 66,776 shares of the company's stock, valued at approximately $3,225,000.

A number of other institutional investors have also recently made changes to their positions in GFL. Bessemer Group Inc. acquired a new position in GFL Environmental during the first quarter worth $28,000. Raymond James Financial Inc. acquired a new position in GFL Environmental during the fourth quarter worth $18,836,000. Cambridge Investment Research Advisors Inc. acquired a new position in GFL Environmental during the first quarter worth $385,000. Geode Capital Management LLC boosted its stake in GFL Environmental by 38.7% during the fourth quarter. Geode Capital Management LLC now owns 1,274,496 shares of the company's stock worth $56,496,000 after buying an additional 355,790 shares during the last quarter. Finally, Paralel Advisors LLC acquired a new position in GFL Environmental during the fourth quarter worth $44,540,000. 64.70% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Trading Down 0.1%

GFL traded down $0.03 during mid-day trading on Friday, hitting $47.48. 677,646 shares of the stock were exchanged, compared to its average volume of 1,466,499. The firm's fifty day moving average is $49.13 and its two-hundred day moving average is $47.25. GFL Environmental Inc. has a 1-year low of $37.00 and a 1-year high of $52.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.89. The company has a market cap of $17.41 billion, a PE ratio of 86.29 and a beta of 1.03.

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

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 14th will be paid a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a yield of 0.13%. GFL Environmental's payout ratio is 1.23%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GFL. National Bank Financial upgraded GFL Environmental to a "strong-buy" rating in a research report on Monday, May 26th. Citigroup lifted their target price on GFL Environmental from $53.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada lifted their target price on GFL Environmental from $53.00 to $56.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. UBS Group lifted their target price on GFL Environmental from $50.00 to $57.00 and gave the company a "buy" rating in a research report on Friday, April 4th. Finally, Seaport Res Ptn upgraded GFL Environmental to a "strong-buy" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $56.29.

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.