PEAK6 Investments LLC Takes $2.47 Million Position in GFL Environmental Inc. (NYSE:GFL)

PEAK6 Investments LLC purchased a new position in shares of GFL Environmental Inc. (NYSE:GFL) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 62,018 shares of the company’s stock, valued at approximately $2,473,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC raised its stake in shares of GFL Environmental by 68.6% during the 1st quarter. Tidal Investments LLC now owns 18,133 shares of the company’s stock worth $626,000 after buying an additional 7,377 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in GFL Environmental by 292.5% during the second quarter. Harbor Capital Advisors Inc. now owns 23,024 shares of the company’s stock worth $896,000 after acquiring an additional 17,158 shares during the period. Threadgill Financial LLC raised its position in GFL Environmental by 17.1% in the second quarter. Threadgill Financial LLC now owns 11,841 shares of the company’s stock worth $461,000 after acquiring an additional 1,726 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in GFL Environmental by 43.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,732 shares of the company’s stock valued at $379,000 after acquiring an additional 2,937 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of GFL Environmental by 51.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after purchasing an additional 459 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GFL shares. Scotiabank raised their price objective on shares of GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. UBS Group lifted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Truist Financial upped their price target on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Raymond James lifted their price objective on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.80.

GFL Environmental Stock Performance

NYSE GFL opened at $47.10 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The stock has a market cap of $18.53 billion, a price-to-earnings ratio of -35.41 and a beta of 1.15. GFL Environmental Inc. has a fifty-two week low of $27.64 and a fifty-two week high of $47.16. The business has a fifty day moving average of $42.34 and a 200-day moving average of $39.81.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. As a group, analysts predict that GFL Environmental Inc. will post 0.59 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s payout ratio is -4.51%.

GFL Environmental Profile

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.