Generate Investment Management Ltd Acquires New Shares in GFL Environmental Inc. $GFL

Generate Investment Management Ltd purchased a new stake in GFL Environmental Inc. (NYSE:GFL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 166,550 shares of the company’s stock, valued at approximately $7,891,000.

Several other hedge funds have also added to or reduced their stakes in GFL. Berbice Capital Management LLC acquired a new position in shares of GFL Environmental in the second quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its holdings in GFL Environmental by 43.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares in the last quarter. Compass Financial Services Inc increased its holdings in GFL Environmental by 63.0% during the 2nd quarter. Compass Financial Services Inc now owns 820 shares of the company’s stock worth $41,000 after purchasing an additional 317 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of GFL Environmental in the 2nd quarter valued at about $90,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of GFL Environmental by 684.5% in the first quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock valued at $124,000 after purchasing an additional 2,245 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of GFL Environmental in a research note on Monday. Raymond James Financial set a $57.00 price target on shares of GFL Environmental and gave the stock an “outperform” rating in a research report on Monday, October 6th. Citigroup raised their price objective on GFL Environmental from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. UBS Group increased their price target on GFL Environmental from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, Scotiabank set a $58.00 price target on GFL Environmental in a research report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, GFL Environmental currently has a consensus rating of “Buy” and a consensus target price of $57.08.

GFL Environmental Trading Down 0.4%

GFL stock opened at $43.67 on Wednesday. The stock has a market cap of $15.68 billion, a price-to-earnings ratio of 6.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.69 and a quick ratio of 0.69. The company has a fifty day moving average price of $44.37 and a two-hundred day moving average price of $46.84. GFL Environmental Inc. has a one year low of $41.29 and a one year high of $52.00.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.69 billion. GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 earnings per share. Equities analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Wednesday, October 15th were paid a $0.0154 dividend. The ex-dividend date was Wednesday, October 15th. This represents a $0.06 annualized dividend and a yield of 0.1%. GFL Environmental’s payout ratio is 0.94%.

GFL Environmental Company Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.