Wealthquest Corp Makes New $253,000 Investment in GFL Environmental Inc. (NYSE:GFL)

Key Points

• Wealthquest Corp acquired a new stake in GFL Environmental Inc., purchasing 5,242 shares valued at approximately $253,000 in the first quarter.
• GFL Environmental's stock price opened at $50.34, with a market capitalization of $18.46 billion and a P/E ratio of 7.93, while analysts expect earnings per share to be 0.58 for the current fiscal year.
• The company declared a quarterly dividend of $0.0154 per share, leading to an annualized dividend of $0.06 and a yield of 0.1%.

Wealthquest Corp acquired a new position in GFL Environmental Inc. (NYSE:GFL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,242 shares of the company's stock, valued at approximately $253,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GFL. Bessemer Group Inc. bought a new position in shares of GFL Environmental in the first quarter valued at approximately $28,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of GFL Environmental during the first quarter worth $385,000. Geode Capital Management LLC lifted its position in shares of 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 acquiring an additional 355,790 shares in the last quarter. Paralel Advisors LLC purchased a new stake in shares of GFL Environmental in the fourth quarter worth $44,540,000. Finally, Bank of New York Mellon Corp raised its position in shares of GFL Environmental by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 192,306 shares of the company's stock worth $9,290,000 after buying an additional 4,981 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Price Performance

GFL stock traded up $0.73 during mid-day trading on Monday, hitting $50.51. The company had a trading volume of 843,654 shares, compared to its average volume of 1,682,243. The company has a 50-day moving average price of $48.97 and a 200 day moving average price of $47.59. The company has a quick ratio of 0.82, a current ratio of 0.67 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $18.52 billion, a price-to-earnings ratio of 7.95 and a beta of 1.00. GFL Environmental Inc. has a 12-month low of $37.58 and a 12-month high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $1.23 billion for 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 firm's revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. On average, research analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

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 $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.1%. GFL Environmental's dividend payout ratio is currently 0.94%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GFL. JPMorgan Chase & Co. began coverage on GFL Environmental in a research report on Friday, May 23rd. They set a "neutral" rating and a $54.00 price target on the stock. Royal Bank Of Canada raised their price objective on shares of GFL Environmental from $56.00 to $59.00 and gave the stock an "outperform" rating in a report on Friday. Citigroup lifted their target price on shares of GFL Environmental from $53.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Raymond James Financial restated an "outperform" rating and issued a $57.00 price objective (up from $56.00) on shares of GFL Environmental in a report on Friday, May 2nd. Finally, Scotiabank lifted their target price on shares of GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a research report on Friday. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus 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.