GFL Environmental Inc. (NYSE:GFL) Shares Acquired by Progeny 3 Inc.

Progeny 3 Inc. boosted its position in GFL Environmental Inc. (NYSE:GFL) by 516.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 893,300 shares of the company’s stock after purchasing an additional 748,350 shares during the quarter. GFL Environmental comprises 3.3% of Progeny 3 Inc.’s holdings, making the stock its 15th biggest position. Progeny 3 Inc. owned approximately 0.24% of GFL Environmental worth $34,776,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GFL. Signaturefd LLC grew its position in GFL Environmental by 23.5% in the 2nd quarter. Signaturefd LLC now owns 2,149 shares of the company’s stock valued at $84,000 after buying an additional 409 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of GFL Environmental by 51.1% in the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock valued at $53,000 after buying an additional 459 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of GFL Environmental by 3.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company’s stock worth $838,000 after purchasing an additional 664 shares during the period. Tobam acquired a new stake in GFL Environmental during the 1st quarter worth about $25,000. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of GFL Environmental by 13.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,795 shares of the company’s stock valued at $234,000 after acquiring an additional 780 shares in the last quarter. Institutional investors own 64.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on GFL shares. BMO Capital Markets cut GFL Environmental from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $43.00 to $42.00 in a research report on Tuesday, July 9th. Raymond James raised their price target on shares of GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada increased their price objective on GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.64.

GFL Environmental Stock Up 0.9 %

Shares of GFL stock opened at $39.64 on Tuesday. GFL Environmental Inc. has a 12 month low of $26.87 and a 12 month high of $43.79. The stock has a 50 day moving average of $40.33 and a 200-day moving average of $36.79. The firm has a market cap of $14.92 billion, a PE ratio of 38.49 and a beta of 1.16. 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 (NYSE:GFL) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. On average, equities analysts predict that GFL Environmental Inc. will post 0.62 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, July 15th. GFL Environmental’s payout ratio is presently 4.85%.

GFL Environmental Company 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.