70,375 Shares in GFL Environmental Inc. (NYSE:GFL) Purchased by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in shares of GFL Environmental Inc. (NYSE:GFL) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 70,375 shares of the company’s stock, valued at approximately $2,807,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. grew its stake in GFL Environmental by 325.0% during the 1st quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock valued at $44,000 after acquiring an additional 975 shares in the last quarter. Fifth Third Bancorp boosted its stake in GFL Environmental by 51.1% during the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after buying an additional 459 shares during the last quarter. Spartan Fund Management Inc. purchased a new stake in GFL Environmental in the 3rd quarter valued at $60,000. Tobam increased its stake in shares of GFL Environmental by 139.5% in the 2nd quarter. Tobam now owns 1,751 shares of the company’s stock worth $68,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Avior Wealth Management LLC acquired a new stake in shares of GFL Environmental in the 3rd quarter worth $82,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Price Performance

Shares of GFL opened at $46.25 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a fifty-two week low of $26.87 and a fifty-two week high of $47.11. The company has a market cap of $18.19 billion, a P/E ratio of -34.77 and a beta of 1.15. The firm’s 50 day moving average price is $42.05 and its 200 day moving average price is $39.54.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. On average, research analysts forecast 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 dividend of $0.014 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. GFL Environmental’s payout ratio is currently -3.76%.

Analyst Ratings Changes

GFL has been the topic of several recent research reports. UBS Group boosted 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 raised their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Scotiabank increased their price objective on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. Raymond James raised their price objective on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada lifted their price target on shares of GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, GFL Environmental currently has an average rating of “Moderate Buy” and an average price target of $45.80.

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.