Atria Investments Inc Grows Position in GFL Environmental Inc. (NYSE:GFL)

Atria Investments Inc boosted its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 11.3% during the third quarter, HoldingsChannel.com reports. The firm owned 15,400 shares of the company’s stock after acquiring an additional 1,567 shares during the period. Atria Investments Inc’s holdings in GFL Environmental were worth $614,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GFL. Seven Grand Managers LLC purchased a new position in shares of GFL Environmental in the 3rd quarter worth $1,994,000. Toronto Dominion Bank lifted its stake in shares of 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 purchasing an additional 18,742 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of GFL Environmental by 115.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 49,566 shares of the company’s stock valued at $1,977,000 after purchasing an additional 26,542 shares in the last quarter. Copeland Capital Management LLC grew its holdings in shares of GFL Environmental by 2.2% during the 3rd quarter. Copeland Capital Management LLC now owns 921,377 shares of the company’s stock worth $36,745,000 after purchasing an additional 19,675 shares during the period. Finally, Forsta AP Fonden purchased a new position in GFL Environmental in the third quarter valued at approximately $1,761,000. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Stock Performance

Shares of GFL opened at $45.59 on Wednesday. The firm has a market cap of $17.17 billion, a price-to-earnings ratio of -34.28 and a beta of 1.15. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The business’s 50 day moving average is $41.32 and its two-hundred day moving average is $39.02. GFL Environmental Inc. has a 52-week low of $26.87 and a 52-week high of $46.48.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Analysts forecast that GFL Environmental Inc. will post 0.6 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a dividend of $0.014 per share. The ex-dividend date was Wednesday, October 16th. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. GFL Environmental’s payout ratio is -4.51%.

Analyst Upgrades and Downgrades

GFL has been the subject of several research reports. Truist Financial boosted their price objective on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Scotiabank increased their price target on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. Raymond James raised their price objective on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. UBS Group upped their target price on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada raised their target price on GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.80.

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.