Generate Investment Management Ltd Makes New Investment in GFL Environmental Inc. $GFL

Generate Investment Management Ltd acquired a new stake in GFL Environmental Inc. (NYSE:GFL) during the 3rd quarter, Holdings Channel reports. The fund acquired 141,155 shares of the company’s stock, valued at approximately $5,905,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alberta Investment Management Corp acquired a new stake in GFL Environmental in the 4th quarter valued at approximately $33,077,000. Bank of America Corp DE grew its stake in shares of GFL Environmental by 43.8% during the 1st quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock worth $77,064,000 after acquiring an additional 563,001 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of 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 acquiring an additional 471,935 shares in the last quarter. Advent International L.P. raised its holdings in shares of GFL Environmental by 117.1% in the first quarter. Advent International L.P. now owns 823,010 shares of the company’s stock valued at $34,336,000 after purchasing an additional 443,918 shares during the last quarter. Finally, Verbena Value LP raised its holdings in shares of GFL Environmental by 44.7% in the first quarter. Verbena Value LP now owns 1,211,100 shares of the company’s stock valued at $50,527,000 after purchasing an additional 374,000 shares during the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Stock Down 0.4%

GFL stock traded down $0.17 during mid-day trading on Wednesday, reaching $42.58. The company had a trading volume of 1,470,886 shares, compared to its average volume of 2,434,760. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a 50 day simple moving average of $41.97 and a two-hundred day simple moving average of $39.68. The company has a market capitalization of $15.37 billion, a price-to-earnings ratio of -80.32, a PEG ratio of 3.12 and a beta of 0.72. GFL Environmental Inc. has a 52 week low of $33.33 and a 52 week high of $47.01.

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

GFL Environmental Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented on the stock. TD Cowen reissued a “buy” rating and issued a $65.00 price objective on shares of GFL Environmental in a research report on Friday, September 11th. JPMorgan Chase & Co. raised their target price on shares of GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. 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 target on the stock. Weiss Ratings raised shares of GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 26th. Finally, Citigroup set a $51.00 price objective on shares of GFL Environmental and gave the stock a “buy” rating in a research note on Monday, July 6th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $57.67.

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.