Vestcor Inc Buys 17,900 Shares of GFL Environmental Inc. (NYSE:GFL)

Key Points

• Vestcor Inc increased its ownership in GFL Environmental Inc. by 5.1%, acquiring an additional 17,900 shares to reach a total of 371,315 shares valued at approximately $17.94 million.
• Analysts are optimistic about GFL Environmental, with Citigroup and Royal Bank of Canada raising their price targets to between $56.00 and $57.00 and maintaining a "buy" or "outperform" rating.
• GFL Environmental recently declared a quarterly dividend of $0.0154 per share, contributing to an annualized dividend yield of 0.13%.

Vestcor Inc raised its position in GFL Environmental Inc. (NYSE:GFL - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 371,315 shares of the company's stock after buying an additional 17,900 shares during the period. Vestcor Inc owned about 0.09% of GFL Environmental worth $17,938,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its position in shares of GFL Environmental by 10.0% in the 4th quarter. FMR LLC now owns 27,664,678 shares of the company's stock worth $1,233,223,000 after purchasing an additional 2,506,021 shares during the last quarter. Capital Research Global Investors lifted its holdings in GFL Environmental by 11.4% during the fourth quarter. Capital Research Global Investors now owns 26,973,784 shares of the company's stock worth $1,201,406,000 after acquiring an additional 2,751,618 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of GFL Environmental by 1.9% in the 4th quarter. Fred Alger Management LLC now owns 10,411,148 shares of the company's stock valued at $463,713,000 after purchasing an additional 190,018 shares during the period. Vanguard Group Inc. raised its stake in shares of GFL Environmental by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 8,697,180 shares of the company's stock valued at $387,705,000 after purchasing an additional 217,096 shares during the period. Finally, Soros Fund Management LLC raised its stake in shares of GFL Environmental by 1.5% in the 4th quarter. Soros Fund Management LLC now owns 3,203,904 shares of the company's stock valued at $142,702,000 after purchasing an additional 47,577 shares during the period. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Stock Performance

Shares of NYSE:GFL traded down $0.51 during trading on Friday, reaching $49.83. 1,309,113 shares of the stock were exchanged, compared to its average volume of 1,121,947. GFL Environmental Inc. has a 12 month low of $37.58 and a 12 month high of $52.00. The firm has a market cap of $18.27 billion, a PE ratio of 7.85 and a beta of 1.00. The stock has a 50-day moving average price of $48.96 and a 200-day moving average price of $47.48. 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 (NYSE:GFL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.19. GFL Environmental had a return on equity of 3.71% and a net margin of 48.53%. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the company posted $0.29 earnings per share. The business's revenue was up 5.9% on a year-over-year basis. Research analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently issued reports on GFL. 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 research report on Friday, May 2nd. UBS Group boosted their price target on GFL Environmental from $50.00 to $57.00 and gave the stock a "buy" rating in a research report on Friday, April 4th. Citigroup boosted their price target on GFL Environmental from $53.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Seaport Res Ptn raised GFL Environmental to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada boosted their price target on GFL Environmental from $56.00 to $59.00 and gave the stock an "outperform" rating in a research report on Friday. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $57.57.

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.