CTC Alternative Strategies Ltd. Takes $588,000 Position in GFL Environmental Inc. $GFL

CTC Alternative Strategies Ltd. bought a new position in GFL Environmental Inc. (NYSE:GFL) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,100 shares of the company’s stock, valued at approximately $588,000. GFL Environmental comprises about 1.3% of CTC Alternative Strategies Ltd.’s investment portfolio, making the stock its 25th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in GFL Environmental by 43.8% during the first 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 during the last quarter. Amundi increased its stake in GFL Environmental by 26.4% in the 1st quarter. Amundi now owns 379,258 shares of the company’s stock worth $15,823,000 after acquiring an additional 79,270 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in GFL Environmental by 36.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,335 shares of the company’s stock worth $56,000 after acquiring an additional 360 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings 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. Finally, Advent International L.P. raised its holdings in shares of GFL Environmental by 117.1% during the 1st quarter. Advent International L.P. now owns 823,010 shares of the company’s stock worth $34,336,000 after acquiring an additional 443,918 shares in the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

GFL Environmental Trading Down 0.1%

Shares of NYSE GFL opened at $41.32 on Friday. GFL Environmental Inc. has a 1-year low of $33.33 and a 1-year high of $51.51. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.75 and a quick ratio of 1.51. The business’s 50 day moving average is $37.39 and its two-hundred day moving average is $40.08. The stock has a market capitalization of $14.82 billion, a P/E ratio of -77.97, a PEG ratio of 3.13 and a beta of 0.70.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 earnings per share. As a group, research analysts expect that GFL Environmental Inc. will post 0.56 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 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, July 13th. GFL Environmental’s dividend payout ratio is presently -13.21%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GFL shares. Scotiabank reiterated an “outperform” rating on shares of GFL Environmental in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of GFL Environmental from $40.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, July 16th. Zacks Research downgraded shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research report on Friday. 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. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and a consensus target price of $54.75.

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.