Alberta Investment Management Corp Invests $33.08 Million in GFL Environmental Inc. $GFL

Alberta Investment Management Corp purchased a new position in GFL Environmental Inc. (NYSE:GFL) during the fourth quarter, HoldingsChannel reports. The firm purchased 770,000 shares of the company’s stock, valued at approximately $33,077,000.

A number of other hedge funds have also recently made changes to their positions in GFL. Sunbelt Securities Inc. bought a new position in shares of GFL Environmental in the third quarter worth about $33,000. EverSource Wealth Advisors LLC grew its holdings in shares of GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of GFL Environmental by 45.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after purchasing an additional 304 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of GFL Environmental by 21.9% in the third quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock worth $75,000 after purchasing an additional 289 shares during the last quarter. Finally, Danske Bank A S bought a new position in shares of GFL Environmental in the third quarter worth about $82,000. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Stock Up 0.0%

Shares of GFL Environmental stock opened at $35.99 on Tuesday. 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 Inc. has a 1 year low of $33.33 and a 1 year high of $51.51. The firm’s 50-day moving average is $37.94 and its two-hundred day moving average is $41.34. The stock has a market cap of $12.91 billion, a price-to-earnings ratio of 112.46, a PEG ratio of 2.80 and a beta of 0.72.

GFL Environmental (NYSE:GFL) last issued its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business earned ($0.09) EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts expect that GFL Environmental Inc. will post 0.54 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 13th were issued a dividend of $0.0169 per share. This represents a $0.07 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, April 13th. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s dividend payout ratio (DPR) is currently 21.88%.

Analysts Set New Price Targets

A number of research firms have recently commented on GFL. Scotiabank cut their price target on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a report on Monday, May 4th. Wolfe Research began coverage on shares of GFL Environmental in a report on Friday, March 13th. They issued an “outperform” rating on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. JPMorgan Chase & Co. cut shares of GFL Environmental from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $49.00 to $42.00 in a report on Tuesday, April 14th. Finally, Weiss Ratings cut shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, GFL Environmental presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

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.