GFL Environmental Inc. $GFL Shares Purchased by Concentric Capital Strategies LP

Concentric Capital Strategies LP raised its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 101.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 248,976 shares of the company’s stock after buying an additional 125,656 shares during the period. Concentric Capital Strategies LP’s holdings in GFL Environmental were worth $10,694,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Balyasny Asset Management L.P. grew its holdings in GFL Environmental by 288.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,124,140 shares of the company’s stock valued at $48,282,000 after buying an additional 834,470 shares during the last quarter. Boothbay Fund Management LLC grew its holdings in GFL Environmental by 48.6% during the 4th quarter. Boothbay Fund Management LLC now owns 173,445 shares of the company’s stock valued at $7,450,000 after buying an additional 56,688 shares during the last quarter. Aristeia Capital L.L.C. grew its holdings in GFL Environmental by 82.5% during the 4th quarter. Aristeia Capital L.L.C. now owns 13,880 shares of the company’s stock valued at $596,000 after buying an additional 6,275 shares during the last quarter. Freestone Grove Partners LP grew its holdings in GFL Environmental by 31.1% during the 4th quarter. Freestone Grove Partners LP now owns 446,741 shares of the company’s stock valued at $19,188,000 after buying an additional 105,851 shares during the last quarter. Finally, Caisse de depot et placement du Quebec grew its holdings in GFL Environmental by 23.6% during the 4th quarter. Caisse de depot et placement du Quebec now owns 1,383,100 shares of the company’s stock valued at $59,491,000 after buying an additional 264,515 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Price Performance

GFL stock opened at $35.07 on Thursday. GFL Environmental Inc. has a 52-week low of $33.33 and a 52-week high of $51.51. The stock’s fifty day simple moving average is $37.57 and its 200-day simple moving average is $41.20. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $12.58 billion, a price-to-earnings ratio of 109.60, a price-to-earnings-growth ratio of 2.81 and a beta of 0.71.

GFL Environmental (NYSE:GFL) last issued its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. Equities research analysts expect that GFL Environmental Inc. will post 0.54 EPS for the current year.

GFL Environmental Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 13th were given a $0.0169 dividend. This is an increase from GFL Environmental’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, April 13th. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. GFL Environmental’s dividend payout ratio is 21.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wolfe Research assumed coverage on GFL Environmental in a report on Friday, March 13th. They set an “outperform” rating on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Scotiabank decreased their price objective on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a report on Monday, May 4th. Citigroup decreased their price objective on GFL Environmental from $55.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, Zacks Research cut GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.00.

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.