EAM Global Investors LLC Invests $2.90 Million in GFL Environmental Inc. (NYSE:GFL)

EAM Global Investors LLC purchased a new stake in shares of GFL Environmental Inc. (NYSE:GFL) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 65,014 shares of the company’s stock, valued at approximately $2,897,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Generate Investment Management Ltd acquired a new stake in shares of GFL Environmental during the fourth quarter valued at about $15,041,000. Tobam acquired a new stake in GFL Environmental during the 4th quarter valued at approximately $1,846,000. Raymond James Financial Inc. purchased a new stake in GFL Environmental during the 4th quarter worth approximately $18,836,000. Bleakley Financial Group LLC raised its position in shares of GFL Environmental by 9.9% in the 4th quarter. Bleakley Financial Group LLC now owns 7,954 shares of the company’s stock valued at $354,000 after purchasing an additional 718 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of GFL Environmental by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 918,706 shares of the company’s stock valued at $36,296,000 after purchasing an additional 65,449 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 $48.96 on Wednesday. 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 firm’s 50-day moving average price is $46.62 and its two-hundred day moving average price is $44.60. GFL Environmental Inc. has a 52-week low of $30.57 and a 52-week high of $49.72. The stock has a market capitalization of $19.26 billion, a P/E ratio of -36.81 and a beta of 1.09.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be issued a dividend of $0.0154 per share. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental’s payout ratio is -3.87%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. National Bankshares restated an “outperform” rating on shares of GFL Environmental in a research note on Tuesday, March 11th. UBS Group upped their target price on shares of GFL Environmental from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, April 4th. Citigroup reduced their price target on shares of GFL Environmental from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 price objective on shares of GFL Environmental in a report on Monday, February 24th. Finally, Scotiabank increased their target price on GFL Environmental from $52.00 to $54.00 and gave the stock an “outperform” rating in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.25.

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.