Creative Planning Acquires 4,233 Shares of GFL Environmental Inc. (NYSE:GFL)

Creative Planning increased its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 28.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,167 shares of the company’s stock after acquiring an additional 4,233 shares during the period. Creative Planning’s holdings in GFL Environmental were worth $764,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Capital Research Global Investors raised its holdings in GFL Environmental by 17.4% in the first quarter. Capital Research Global Investors now owns 19,851,514 shares of the company’s stock worth $684,877,000 after buying an additional 2,935,811 shares during the last quarter. Vanguard Group Inc. raised its holdings in GFL Environmental by 9.4% in the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock worth $273,053,000 after buying an additional 683,120 shares during the last quarter. Fred Alger Management LLC raised its holdings in GFL Environmental by 7.1% in the second quarter. Fred Alger Management LLC now owns 6,221,767 shares of the company’s stock worth $242,213,000 after buying an additional 411,128 shares during the last quarter. Millennium Management LLC raised its holdings in GFL Environmental by 40.0% in the second quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after buying an additional 1,614,182 shares during the last quarter. Finally, Maverick Capital Ltd. raised its holdings in GFL Environmental by 22.1% in the second quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock worth $127,911,000 after buying an additional 595,259 shares during the last quarter. Institutional investors own 64.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on GFL shares. BMO Capital Markets cut shares of GFL Environmental from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $43.00 to $42.00 in a report on Tuesday, July 9th. Raymond James lifted their target price on shares of GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Royal Bank of Canada boosted their price objective on shares of GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Scotiabank began coverage on shares of GFL Environmental in a report on Friday, October 4th. They set a “sector outperform” rating and a $50.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.56.

GFL Environmental Price Performance

GFL opened at $41.58 on Friday. GFL Environmental Inc. has a twelve month low of $26.87 and a twelve month high of $43.79. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a 50 day moving average price of $40.74 and a 200-day moving average price of $38.03.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, July 31st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. As a group, equities research analysts predict that GFL Environmental Inc. will post 0.61 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a dividend of $0.014 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a yield of 0.13%. GFL Environmental’s dividend payout ratio is currently -4.00%.

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.