Capital Innovations LLC Takes Position in GFL Environmental Inc. $GFL

Capital Innovations LLC acquired a new stake in shares of GFL Environmental Inc. (NYSE:GFL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 106,981 shares of the company’s stock, valued at approximately $4,595,000. GFL Environmental comprises approximately 1.3% of Capital Innovations LLC’s holdings, making the stock its 29th biggest holding.

A number of other large investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in shares of GFL Environmental by 43.1% during the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after buying an additional 219 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of GFL Environmental by 4.1% during the third quarter. Advisory Services Network LLC now owns 6,537 shares of the company’s stock valued at $310,000 after buying an additional 256 shares during the last quarter. Jones Financial Companies Lllp lifted its position in GFL Environmental by 21.9% during the third quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock valued at $75,000 after purchasing an additional 289 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in GFL Environmental by 45.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after purchasing an additional 304 shares during the period. Finally, Engineers Gate Manager LP lifted its position in GFL Environmental by 6.8% during the second quarter. Engineers Gate Manager LP now owns 5,187 shares of the company’s stock valued at $262,000 after purchasing an additional 331 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GFL has been the subject of a number of research reports. Scotiabank decreased their target price on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, May 4th. Weiss Ratings downgraded shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Barclays boosted their target price on shares of GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Finally, Citigroup decreased their target price on shares of GFL Environmental from $55.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, GFL Environmental has an average rating of “Moderate Buy” and a consensus price target of $55.00.

GFL Environmental Trading Down 1.6%

NYSE GFL opened at $33.78 on Wednesday. The company has a fifty day moving average of $39.02 and a 200 day moving average of $42.01. The company has a market capitalization of $12.12 billion, a PE ratio of 105.57, a P/E/G ratio of 2.67 and a beta of 0.71. GFL Environmental Inc. has a 1 year low of $33.33 and a 1 year high of $51.51. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. Research analysts forecast that GFL Environmental Inc. will post 0.54 earnings per share for the current year.

GFL Environmental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 13th were given a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.02. The ex-dividend date was Monday, April 13th. GFL Environmental’s payout ratio is currently 21.88%.

GFL Environmental Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.