Signaturefd LLC Increases Stock Position in GFL Environmental Inc. (NYSE:GFL)

Signaturefd LLC raised its holdings in GFL Environmental Inc. (NYSE:GFL) by 30.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,808 shares of the company’s stock after purchasing an additional 659 shares during the quarter. Signaturefd LLC’s holdings in GFL Environmental were worth $112,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of GFL Environmental by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 7,231,470 shares of the company’s stock worth $249,558,000 after purchasing an additional 77,156 shares during the last quarter. Seven Grand Managers LLC acquired a new position in GFL Environmental in the 3rd quarter valued at $1,994,000. Toronto Dominion Bank raised its holdings in GFL Environmental by 33.8% in the 1st quarter. Toronto Dominion Bank now owns 74,152 shares of the company’s stock valued at $2,558,000 after acquiring an additional 18,742 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in GFL Environmental by 143.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,628 shares of the company’s stock valued at $608,000 after acquiring an additional 10,400 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in GFL Environmental in the 1st quarter valued at $459,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Price Performance

Shares of NYSE:GFL opened at $40.09 on Tuesday. The firm’s 50 day moving average is $40.80 and its two-hundred day moving average is $37.83. GFL Environmental Inc. has a 52 week low of $26.87 and a 52 week high of $43.79. The firm has a market capitalization of $15.10 billion, a P/E ratio of -26.73 and a beta of 1.16. The company has a current ratio of 0.89, a quick 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, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. Analysts anticipate that GFL Environmental Inc. will post 0.61 earnings per share for the current year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be issued a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is presently -4.00%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GFL. BMO Capital Markets downgraded GFL Environmental from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $43.00 to $42.00 in a report on Tuesday, July 9th. Scotiabank began 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 for the company. Royal Bank of Canada upped their price objective on shares of GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Raymond James upped their price objective on shares of GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and a consensus target price of $43.56.

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.