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

Vestcor Inc lifted its stake in GFL Environmental Inc. (NYSE:GFL) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GFL. Millstone Evans Group LLC raised its position in GFL Environmental by 147.8% in the first quarter. Millstone Evans Group LLC now owns 560 shares of the company’s stock worth $27,000 after purchasing an additional 334 shares in the last quarter. Bessemer Group Inc. acquired a new stake in shares of GFL Environmental during the first quarter worth approximately $28,000. LRI Investments LLC acquired a new stake in shares of GFL Environmental during the first quarter worth approximately $34,000. Natixis acquired a new stake in shares of GFL Environmental during the fourth quarter worth approximately $49,000. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of GFL Environmental during the first quarter worth approximately $53,000. Institutional investors own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GFL shares. Citigroup raised their price objective on shares of GFL Environmental from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $57.00 price objective (up previously from $56.00) on shares of GFL Environmental in a report on Friday, May 2nd. Royal Bank Of Canada raised their price objective on shares of GFL Environmental from $53.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. National Bank Financial raised shares of GFL Environmental to a “strong-buy” rating in a report on Monday, May 26th. Finally, JPMorgan Chase & Co. began coverage on shares of GFL Environmental in a report on Friday, May 23rd. They set a “neutral” rating and a $54.00 price objective for the company. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, GFL Environmental has an average rating of “Buy” and an average price target of $56.29.

GFL Environmental Price Performance

GFL opened at $48.71 on Wednesday. GFL Environmental Inc. has a one year low of $37.00 and a one year high of $52.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.82 and a quick ratio of 0.82. The company’s 50 day simple moving average is $48.97 and its 200-day simple moving average is $47.44. The stock has a market capitalization of $17.86 billion, a P/E ratio of 9.98 and a beta of 1.03.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.10). GFL Environmental had a net margin of 36.01% and a return on equity of 3.93%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.52 billion. GFL Environmental’s quarterly revenue was down 13.4% compared to the same quarter last year. Sell-side analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 14th will be paid a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental’s dividend payout ratio (DPR) is currently 1.23%.

About GFL Environmental

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.