Generate Investment Management Ltd Makes New $15.04 Million Investment in GFL Environmental Inc. (NYSE:GFL)

Generate Investment Management Ltd bought a new stake in GFL Environmental Inc. (NYSE:GFL) in the 4th quarter, Holdings Channel.com reports. The fund bought 337,699 shares of the company’s stock, valued at approximately $15,041,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GFL. Fred Alger Management LLC boosted its holdings in GFL Environmental by 64.3% in the third quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after acquiring an additional 3,999,363 shares during the last quarter. Soros Fund Management LLC lifted its position in GFL Environmental by 487.0% during the 3rd quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock valued at $125,874,000 after purchasing an additional 2,618,589 shares during the period. FMR LLC boosted its stake in shares of GFL Environmental by 7.4% in the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company’s stock valued at $1,003,591,000 after purchasing an additional 1,728,598 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of GFL Environmental by 162.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company’s stock worth $50,694,000 after buying an additional 786,044 shares during the period. Finally, Maverick Capital Ltd. raised its stake in shares of 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 during the last quarter. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Up 1.1 %

NYSE:GFL opened at $46.01 on Friday. GFL Environmental Inc. has a 1 year low of $30.57 and a 1 year high of $48.87. The stock has a 50-day moving average price of $44.41 and a two-hundred day moving average price of $42.44. The stock has a market cap of $18.10 billion, a price-to-earnings ratio of -34.59 and a beta of 1.17. 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 (NYSE:GFL) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating 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 analysts’ expectations of $1.49 billion. As a group, equities analysts expect that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 13th were issued a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Monday, January 13th. GFL Environmental’s dividend payout ratio (DPR) is presently -4.51%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GFL shares. Scotiabank reduced their price objective on shares of GFL Environmental from $51.00 to $50.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. UBS Group increased their price target on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Truist Financial lifted their price objective on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Citigroup began coverage on GFL Environmental in a research note on Monday, January 27th. They issued a “buy” rating and a $53.00 target price on the stock. Finally, Raymond James boosted 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. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

About GFL Environmental

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.