Quantbot Technologies LP Makes New $2.81 Million Investment in GFL Environmental Inc. (NYSE:GFL)

Quantbot Technologies LP bought a new position in shares of GFL Environmental Inc. (NYSE:GFL) during the third quarter, HoldingsChannel reports. The fund bought 70,375 shares of the company’s stock, valued at approximately $2,807,000.

A number of other hedge funds have also modified their holdings of GFL. FMR LLC grew its holdings in shares of GFL Environmental by 7.4% during the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after buying an additional 1,728,598 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of GFL Environmental by 0.4% during the third quarter. The Manufacturers Life Insurance Company now owns 621,387 shares of the company’s stock worth $24,804,000 after purchasing an additional 2,529 shares during the period. Bank of Montreal Can grew its position in GFL Environmental by 35.6% in the 3rd quarter. Bank of Montreal Can now owns 1,190,903 shares of the company’s stock valued at $46,769,000 after buying an additional 312,472 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in GFL Environmental by 162.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company’s stock worth $50,694,000 after buying an additional 786,044 shares during the last quarter. Finally, Bank of Hawaii lifted its stake in shares of GFL Environmental by 49.1% in the 3rd quarter. Bank of Hawaii now owns 30,063 shares of the company’s stock worth $1,199,000 after acquiring an additional 9,896 shares during the period. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GFL shares. Scotiabank increased their price target 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. Royal Bank of Canada raised their price target on GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. UBS Group upped their price objective on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Raymond James raised their target price on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Truist Financial upped their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and a consensus target price of $45.80.

GFL Environmental Stock Performance

Shares of GFL opened at $46.25 on Thursday. GFL Environmental Inc. has a 12-month low of $26.87 and a 12-month high of $47.11. The stock has a market cap of $18.19 billion, a P/E ratio of -34.77 and a beta of 1.15. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The company has a 50-day moving average of $42.05 and a two-hundred day moving average of $39.54.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The firm had revenue of $1.48 billion during 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%. As a group, research analysts predict that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently disclosed 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. 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 payout ratio is currently -3.76%.

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.