GFL Environmental Inc. (NYSE:GFL) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC boosted its position in GFL Environmental Inc. (NYSE:GFLFree Report) by 64.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,221,130 shares of the company’s stock after purchasing an additional 3,999,363 shares during the quarter. GFL Environmental comprises about 2.0% of Fred Alger Management LLC’s portfolio, making the stock its 9th biggest holding. Fred Alger Management LLC’s holdings in GFL Environmental were worth $407,619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GFL. Cape Investment Advisory Inc. grew its position in shares of GFL Environmental by 325.0% during the 1st quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock worth $44,000 after purchasing an additional 975 shares in the last quarter. Fifth Third Bancorp grew its position in GFL Environmental by 51.1% during the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after buying an additional 459 shares in the last quarter. Spartan Fund Management Inc. acquired a new stake in GFL Environmental during the third quarter worth approximately $60,000. Tobam increased its stake in GFL Environmental by 139.5% during the 2nd quarter. Tobam now owns 1,751 shares of the company’s stock worth $68,000 after acquiring an additional 1,020 shares during the period. Finally, Avior Wealth Management LLC acquired a new position in GFL Environmental in the 3rd quarter valued at $82,000. 64.70% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Stock Down 0.8 %

Shares of NYSE:GFL opened at $46.26 on Friday. GFL Environmental Inc. has a 52-week low of $26.87 and a 52-week high of $47.11. The company has a market capitalization of $18.20 billion, a PE ratio of -34.78 and a beta of 1.15. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The company has a fifty day moving average of $42.19 and a 200-day moving average of $39.59.

GFL Environmental (NYSE:GFLGet Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. On average, equities analysts predict that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a $0.014 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. GFL Environmental’s dividend payout ratio (DPR) is presently -4.51%.

Analyst Ratings Changes

Several research firms have recently issued reports on GFL. Royal Bank of Canada increased their target price on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. UBS Group increased their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Scotiabank boosted their target price on shares of GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. 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. Finally, Raymond James upped their target price on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.80.

Get Our Latest Stock Report on GFL

GFL Environmental Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for GFL Environmental (NYSE:GFL)

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