PEAK6 Investments LLC Makes New Investment in GFL Environmental Inc. (NYSE:GFL)

PEAK6 Investments LLC acquired a new stake in GFL Environmental Inc. (NYSE:GFL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 62,018 shares of the company’s stock, valued at approximately $2,473,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GFL. Tidal Investments LLC boosted its stake in shares of GFL Environmental by 68.6% in the first quarter. Tidal Investments LLC now owns 18,133 shares of the company’s stock valued at $626,000 after purchasing an additional 7,377 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of GFL Environmental by 292.5% in the second quarter. Harbor Capital Advisors Inc. now owns 23,024 shares of the company’s stock valued at $896,000 after purchasing an additional 17,158 shares during the period. Threadgill Financial LLC boosted its stake in shares of GFL Environmental by 17.1% in the second quarter. Threadgill Financial LLC now owns 11,841 shares of the company’s stock valued at $461,000 after purchasing an additional 1,726 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in GFL Environmental by 43.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,732 shares of the company’s stock worth $379,000 after acquiring an additional 2,937 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of GFL Environmental by 51.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock valued at $53,000 after purchasing an additional 459 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

GFL Environmental Stock Performance

Shares of GFL stock opened at $47.10 on Monday. The stock’s 50-day moving average is $42.34 and its two-hundred day moving average is $39.81. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of -35.41 and a beta of 1.15. GFL Environmental Inc. has a 1 year low of $27.64 and a 1 year high of $47.16. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. Analysts predict that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Announces Dividend

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

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.