Forsta AP Fonden Invests $1.76 Million in GFL Environmental Inc. (NYSE:GFL)

Forsta AP Fonden acquired a new position in GFL Environmental Inc. (NYSE:GFL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 44,100 shares of the company’s stock, valued at approximately $1,761,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC increased its stake in shares of GFL Environmental by 101.6% in the third quarter. Mount Yale Investment Advisors LLC now owns 55,817 shares of the company’s stock worth $2,226,000 after purchasing an additional 28,135 shares in the last quarter. Spartan Fund Management Inc. bought a new position in GFL Environmental in the 3rd quarter worth approximately $60,000. Signaturefd LLC boosted its holdings in GFL Environmental by 30.7% in the 3rd quarter. Signaturefd LLC now owns 2,808 shares of the company’s stock worth $112,000 after buying an additional 659 shares during the period. Copeland Capital Management LLC grew its stake in GFL Environmental by 2.2% in the 3rd quarter. Copeland Capital Management LLC now owns 921,377 shares of the company’s stock valued at $36,745,000 after buying an additional 19,675 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new stake in GFL Environmental during the 3rd quarter valued at $289,000. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Trading Up 1.7 %

Shares of GFL Environmental stock opened at $42.00 on Thursday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.89 and a quick ratio of 0.89. GFL Environmental Inc. has a 1 year low of $26.87 and a 1 year high of $43.79. The firm has a market cap of $15.81 billion, a PE ratio of -28.00 and a beta of 1.16. The company has a 50 day simple moving average of $40.79 and a two-hundred day simple moving average of $37.91.

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 analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. Analysts expect that GFL Environmental Inc. will post 0.61 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be paid a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is currently -3.33%.

Wall Street Analysts Forecast Growth

GFL has been the subject of a number of analyst reports. Scotiabank assumed coverage on GFL Environmental in a report on Friday, October 4th. They issued a “sector outperform” rating and a $50.00 price target for the company. Raymond James raised their target price on GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Royal Bank of Canada upped their price target on GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets downgraded 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 report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and six have issued 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 price target of $43.56.

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.