Concentric Capital Strategies LP Invests $6.32 Million in GFL Environmental Inc. (NYSE:GFL)

Concentric Capital Strategies LP acquired a new stake in GFL Environmental Inc. (NYSE:GFL) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 158,497 shares of the company’s stock, valued at approximately $6,321,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GFL. Fifth Third Bancorp boosted its position in GFL Environmental by 51.1% during the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock valued at $53,000 after buying an additional 459 shares during the period. Spartan Fund Management Inc. purchased a new stake in GFL Environmental during the 3rd quarter valued at about $60,000. Tobam grew its position in GFL Environmental by 139.5% during 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. Avior Wealth Management LLC purchased a new position in GFL Environmental in the 3rd quarter worth approximately $82,000. Finally, Signaturefd LLC lifted its position in GFL Environmental by 23.5% in the second quarter. Signaturefd LLC now owns 2,149 shares of the company’s stock valued at $84,000 after purchasing an additional 409 shares during the last quarter. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Performance

Shares of GFL opened at $47.10 on Monday. The company has a 50-day simple moving average of $42.34 and a two-hundred day simple moving average of $39.81. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $18.53 billion, a PE ratio of -35.41 and a beta of 1.15. GFL Environmental Inc. has a one year low of $27.64 and a one year high of $47.16.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. On average, analysts anticipate that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is presently -4.51%.

Analysts Set New Price Targets

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

About GFL Environmental

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.