Progeny 3 Inc. Acquires 125,000 Shares of GFL Environmental Inc. (NYSE:GFL)

Progeny 3 Inc. increased its holdings in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,018,300 shares of the company's stock after acquiring an additional 125,000 shares during the period. GFL Environmental makes up approximately 3.6% of Progeny 3 Inc.'s portfolio, making the stock its 13th biggest holding. Progeny 3 Inc. owned 0.26% of GFL Environmental worth $45,355,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of GFL Environmental by 124.9% during the 4th quarter. Blue Trust Inc. now owns 551 shares of the company's stock worth $25,000 after acquiring an additional 306 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in GFL Environmental in the 4th quarter valued at about $27,000. Natixis purchased a new position in GFL Environmental during the 4th quarter valued at about $49,000. SRH Advisors LLC acquired a new position in GFL Environmental during the fourth quarter worth about $89,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in GFL Environmental by 350.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company's stock valued at $107,000 after buying an additional 1,867 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GFL. Citigroup lifted their price target on shares of GFL Environmental from $53.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Stifel Nicolaus raised shares of GFL Environmental from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Truist Financial raised their target price on shares of GFL Environmental from $54.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Scotiabank reaffirmed an "outperform" rating on shares of GFL Environmental in a research report on Monday, May 5th. Finally, Seaport Res Ptn upgraded shares of GFL Environmental to a "strong-buy" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, GFL Environmental has a consensus rating of "Buy" and an average price target of $54.57.

GFL Environmental Stock Up 0.1%

Shares of NYSE:GFL traded up $0.06 during midday trading on Tuesday, hitting $49.85. The stock had a trading volume of 444,671 shares, compared to its average volume of 1,959,329. The business's 50-day simple moving average is $48.17 and its 200-day simple moving average is $46.04. The company has a market cap of $19.61 billion, a P/E ratio of -37.48 and a beta of 1.08. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a 12 month low of $30.57 and a 12 month high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.10). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.52 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The business's quarterly revenue was down 13.4% on a year-over-year basis. On average, sell-side analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 14th were paid a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. This is an increase from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's dividend payout ratio (DPR) is currently 1.23%.

GFL Environmental 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.