Generate Investment Management Ltd Buys New Position in GFL Environmental Inc. (NYSE:GFL)

Generate Investment Management Ltd purchased a new position in GFL Environmental Inc. (NYSE:GFL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 337,699 shares of the company’s stock, valued at approximately $15,041,000. Generate Investment Management Ltd owned 0.09% of GFL Environmental as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Fred Alger Management LLC grew its stake in shares of GFL Environmental by 64.3% in the third quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock worth $407,619,000 after acquiring an additional 3,999,363 shares during the last quarter. Soros Fund Management LLC increased its holdings in shares of GFL Environmental by 487.0% during the 3rd quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock worth $125,874,000 after purchasing an additional 2,618,589 shares during the period. FMR LLC increased its holdings in shares of GFL Environmental by 7.4% during the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after purchasing an additional 1,728,598 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of GFL Environmental by 162.0% in the third quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company’s stock valued at $50,694,000 after buying an additional 786,044 shares during the period. Finally, Maverick Capital Ltd. grew its position in GFL Environmental by 11.3% during the third quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock worth $145,889,000 after buying an additional 372,534 shares in the last quarter. 64.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GFL shares. Scotiabank decreased their price objective on GFL Environmental from $51.00 to $50.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. 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 report on Friday, November 8th. Citigroup began coverage on shares of GFL Environmental in a research note on Monday, January 27th. They issued a “buy” rating and a $53.00 price objective for the company. UBS Group lifted their target price 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. Finally, Truist Financial increased their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.00.

GFL Environmental Price Performance

Shares of GFL Environmental stock opened at $46.01 on Friday. The stock has a market capitalization of $18.10 billion, a price-to-earnings ratio of -34.59 and a beta of 1.17. The firm’s 50-day moving average price is $44.41 and its two-hundred day moving average price is $42.44. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a 1-year low of $30.57 and a 1-year high of $48.87.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. On average, equities analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 13th were paid a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Monday, January 13th. GFL Environmental’s dividend payout ratio is currently -4.51%.

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.