Bleakley Financial Group LLC Takes Position in GFL Environmental Inc. (NYSE:GFL)

Bleakley Financial Group LLC acquired a new stake in GFL Environmental Inc. (NYSE:GFL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,236 shares of the company’s stock, valued at approximately $289,000.

Several other large investors also recently modified their holdings of GFL. Capital Research Global Investors raised its position in shares of GFL Environmental by 17.4% in the first quarter. Capital Research Global Investors now owns 19,851,514 shares of the company’s stock valued at $684,877,000 after purchasing an additional 2,935,811 shares during the period. Millennium Management LLC raised its position in shares of GFL Environmental by 40.0% in the second quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock valued at $219,922,000 after purchasing an additional 1,614,182 shares during the period. Findlay Park Partners LLP bought a new position in shares of GFL Environmental in the first quarter valued at about $35,686,000. Progeny 3 Inc. raised its position in shares of GFL Environmental by 516.3% in the second quarter. Progeny 3 Inc. now owns 893,300 shares of the company’s stock valued at $34,776,000 after purchasing an additional 748,350 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of GFL Environmental by 9.4% in the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock valued at $273,053,000 after purchasing an additional 683,120 shares during the period. 64.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on GFL shares. Raymond James raised their price target on shares of GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Royal Bank of Canada raised their price target on shares of GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets lowered shares of GFL Environmental from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $43.00 to $42.00 in a research report on Tuesday, July 9th. Finally, Scotiabank started coverage on shares of GFL Environmental in a research report on Friday, October 4th. They set a “sector outperform” rating and a $50.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.56.

GFL Environmental Price Performance

GFL stock opened at $41.69 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.45. GFL Environmental Inc. has a 12 month low of $26.87 and a 12 month high of $43.79. The firm has a market cap of $15.70 billion, a P/E ratio of -27.79 and a beta of 1.16. The company’s 50-day moving average price is $40.86 and its two-hundred day moving average price is $37.70.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. On average, analysts anticipate that GFL Environmental Inc. will post 0.62 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, October 31st. Investors of record on Wednesday, October 16th will be issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is presently -3.33%.

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.