158,497 Shares in GFL Environmental Inc. (NYSE:GFL) Acquired by Concentric Capital Strategies LP

Concentric Capital Strategies LP acquired a new stake in shares of GFL Environmental Inc. (NYSE:GFL) in the third quarter, Holdings Channel reports. The firm acquired 158,497 shares of the company’s stock, valued at approximately $6,321,000.

A number of other large investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp increased its holdings in shares of 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 acquiring an additional 459 shares in the last quarter. Spartan Fund Management Inc. bought a new position in GFL Environmental in the 3rd quarter worth 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 valued at $68,000 after purchasing an additional 1,020 shares during the last quarter. Avior Wealth Management LLC purchased a new position in GFL Environmental in the third quarter worth about $82,000. Finally, Signaturefd LLC lifted its stake in shares of GFL Environmental by 23.5% in the second quarter. Signaturefd LLC now owns 2,149 shares of the company’s stock worth $84,000 after buying an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Performance

Shares of NYSE GFL opened at $47.10 on Monday. GFL Environmental Inc. has a 12-month low of $27.64 and a 12-month high of $47.16. The firm has a market capitalization of $18.53 billion, a price-to-earnings ratio of -35.41 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 firm has a 50 day moving average of $42.34 and a 200 day moving average of $39.81.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.49 billion. On average, research analysts anticipate that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s payout ratio is -4.51%.

Analysts Set New Price Targets

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

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.