Korea Investment CORP Purchases 61,211 Shares of GFL Environmental Inc. (NYSE:GFL)

Korea Investment CORP boosted its position in shares of GFL Environmental Inc. (NYSE:GFL) by 104.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,699 shares of the company’s stock after purchasing an additional 61,211 shares during the period. Korea Investment CORP’s holdings in GFL Environmental were worth $5,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its holdings in shares of GFL Environmental by 88.5% in the third quarter. Cerity Partners LLC now owns 21,148 shares of the company’s stock worth $843,000 after buying an additional 9,930 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of GFL Environmental by 2.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,293 shares of the company’s stock valued at $1,769,000 after purchasing an additional 848 shares during the period. PEAK6 Investments LLC bought a new position in shares of GFL Environmental in the third quarter worth about $2,473,000. Walleye Trading LLC purchased a new position in GFL Environmental in the 3rd quarter worth about $606,000. Finally, Verition Fund Management LLC lifted its holdings in GFL Environmental by 539.9% during the 3rd quarter. Verition Fund Management LLC now owns 84,468 shares of the company’s stock valued at $3,369,000 after buying an additional 71,268 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Stock Up 1.3 %

Shares of GFL Environmental stock opened at $48.38 on Tuesday. GFL Environmental Inc. has a 52-week low of $30.57 and a 52-week high of $49.35. The firm’s 50 day moving average price is $45.73 and its 200-day moving average price is $44.02. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The company has a market cap of $19.03 billion, a P/E ratio of -36.37 and a beta of 1.16.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.98 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. On average, sell-side analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 13th were issued a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 0.12%. The ex-dividend date was Monday, January 13th. GFL Environmental’s dividend payout ratio is presently -3.23%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of GFL Environmental in a research note on Monday, January 27th. They set a “buy” rating and a $53.00 price target for the company. Scotiabank upped their target price on GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 5th. Royal Bank of Canada restated an “outperform” rating and set a $53.00 price target on shares of GFL Environmental in a research note on Monday, February 24th. Stifel Nicolaus raised shares of GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, National Bankshares reissued an “outperform” rating on shares of GFL Environmental in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, GFL Environmental currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.

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.