Seven Grand Managers LLC Makes New $1.99 Million Investment in GFL Environmental Inc. (NYSE:GFL)

Seven Grand Managers LLC bought a new position in GFL Environmental Inc. (NYSE:GFL) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 50,000 shares of the company’s stock, valued at approximately $1,994,000.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in GFL Environmental by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 7,231,470 shares of the company’s stock worth $249,558,000 after acquiring an additional 77,156 shares during the last quarter. Toronto Dominion Bank increased its position in shares of GFL Environmental by 33.8% during the 1st quarter. Toronto Dominion Bank now owns 74,152 shares of the company’s stock valued at $2,558,000 after purchasing an additional 18,742 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in GFL Environmental by 143.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,628 shares of the company’s stock valued at $608,000 after buying an additional 10,400 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in GFL Environmental during the 1st quarter valued at $459,000. Finally, Jennison Associates LLC lifted its position in GFL Environmental by 3.3% in the first quarter. Jennison Associates LLC now owns 1,377,478 shares of the company’s stock worth $47,523,000 after buying an additional 44,517 shares during the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

GFL Environmental Stock Performance

Shares of NYSE:GFL opened at $40.71 on Thursday. The firm’s 50 day simple moving average is $40.71 and its 200-day simple moving average is $37.43. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.89. GFL Environmental Inc. has a one year low of $26.87 and a one year high of $43.79. The firm has a market cap of $15.33 billion, a PE ratio of -27.14 and a beta of 1.16.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. As a group, equities analysts predict that GFL Environmental Inc. will post 0.62 EPS for the current year.

GFL Environmental Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be paid a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is presently -3.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GFL shares. BMO Capital Markets downgraded shares of GFL Environmental from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $43.00 to $42.00 in a research note on Tuesday, July 9th. Royal Bank of Canada upped their price target on shares of GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Scotiabank started coverage on shares of GFL Environmental in a research note on Friday, October 4th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Finally, Raymond James boosted their target price on GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and an average target price of $43.09.

GFL Environmental Company 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.