Capital Innovations LLC Makes New $4.60 Million Investment in GFL Environmental Inc. $GFL

Capital Innovations LLC acquired a new position in GFL Environmental Inc. (NYSE:GFL) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 106,981 shares of the company’s stock, valued at approximately $4,595,000. GFL Environmental accounts for about 1.3% of Capital Innovations LLC’s portfolio, making the stock its 29th largest holding.

Other hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. acquired a new position in shares of GFL Environmental during the 3rd quarter worth about $33,000. EverSource Wealth Advisors LLC raised its position in shares of GFL Environmental by 43.1% during the 2nd 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 raised its position in shares of GFL Environmental by 45.2% during the 3rd 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 raised its position in shares of GFL Environmental by 21.9% during the 3rd 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 acquired a new position in shares of GFL Environmental during the 3rd quarter worth about $82,000. Institutional investors and hedge funds own 64.70% of the company’s stock.

Analysts Set New Price Targets

GFL has been the subject of several research analyst reports. Scotiabank reduced their price target 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. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Zacks Research downgraded shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. downgraded shares of GFL Environmental from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $49.00 to $42.00 in a research report on Tuesday, April 14th. Finally, Wolfe Research initiated coverage on shares of GFL Environmental in a research report on Friday, March 13th. They set an “outperform” rating for the company. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, GFL Environmental has an average rating of “Moderate Buy” and an average target price of $55.00.

GFL Environmental Stock Down 1.6%

GFL stock opened at $33.78 on Wednesday. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 105.57, a PEG ratio of 2.67 and a beta of 0.71. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32. GFL Environmental Inc. has a 12 month low of $33.33 and a 12 month high of $51.51. The firm has a 50-day moving average of $39.02 and a two-hundred day moving average of $42.01.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The company 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%. GFL Environmental’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.09) EPS. As a group, analysts forecast that GFL Environmental Inc. will post 0.54 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 13th were issued a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis 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 payout ratio is currently 21.88%.

About GFL Environmental

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.