32,495 Shares in GFL Environmental Inc. $GFL Bought by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. purchased a new position in shares of GFL Environmental Inc. (NYSE:GFL) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 32,495 shares of the company’s stock, valued at approximately $1,361,000.

Several other institutional investors have also added to or reduced their stakes in GFL. Bank of America Corp DE grew its holdings in GFL Environmental by 43.8% in the 1st quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock valued at $77,064,000 after buying an additional 563,001 shares in the last quarter. Verbena Value LP increased its position in GFL Environmental by 44.7% during the 1st quarter. Verbena Value LP now owns 1,211,100 shares of the company’s stock worth $50,527,000 after buying an additional 374,000 shares during the period. The Manufacturers Life Insurance Company increased its position in GFL Environmental by 68.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,158,643 shares of the company’s stock worth $48,309,000 after buying an additional 471,935 shares during the period. Advent International L.P. lifted its holdings in shares of GFL Environmental by 117.1% during the first quarter. Advent International L.P. now owns 823,010 shares of the company’s stock worth $34,336,000 after buying an additional 443,918 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of GFL Environmental by 26.0% in the first quarter. Swiss National Bank now owns 815,500 shares of the company’s stock valued at $33,969,000 after acquiring an additional 168,200 shares during the period. 64.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GFL has been the topic of several research reports. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a research note on Monday, August 31st. Wolfe Research assumed coverage on shares of GFL Environmental in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $77.00 price objective for the company. Weiss Ratings raised shares of GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. TD Cowen reissued a “buy” rating and issued a $65.00 price objective on shares of GFL Environmental in a report on Friday, September 11th. Finally, Barclays initiated coverage on shares of GFL Environmental in a report on Wednesday, September 2nd. They set an “overweight” rating and a $58.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.67.

GFL Environmental Price Performance

GFL stock traded up $0.37 during midday trading on Tuesday, reaching $42.75. The company had a trading volume of 2,514,525 shares, compared to its average volume of 2,440,801. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.75 and a quick ratio of 0.75. GFL Environmental Inc. has a 1-year low of $33.33 and a 1-year high of $47.01. The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of -80.67, a price-to-earnings-growth ratio of 3.15 and a beta of 0.72. The stock has a 50 day moving average price of $41.97 and a 200-day moving average price of $39.68.

GFL Environmental (NYSE:GFL) last issued its earnings results on Wednesday, July 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.33 billion. GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. GFL Environmental’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Equities research analysts expect that GFL Environmental Inc. will post 0.57 earnings per share for the current year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be given a dividend of $0.0169 per share. This represents a $0.07 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, October 14th. GFL Environmental’s payout ratio is currently -13.21%.

About GFL Environmental

GFL Environmental Inc is a North American environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste.

GFL also provides recycling and organics management services, including the processing of recyclable materials and organic waste. Its environmental services include liquid waste management, soil remediation, infrastructure services and other specialized solutions for industrial and commercial customers.

Founded in 2007, GFL is headquartered in Vaughan, Ontario, and serves communities and customers across Canada and the United States.