Walleye Trading LLC Takes Position in GFL Environmental Inc. (NYSE:GFL)

Walleye Trading LLC acquired a new stake in shares of GFL Environmental Inc. (NYSE:GFL) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,206 shares of the company’s stock, valued at approximately $606,000.

Other large investors have also made changes to their positions in the company. Fifth Third Bancorp raised its position in GFL Environmental by 51.1% in the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after purchasing an additional 459 shares in the last quarter. Spartan Fund Management Inc. acquired a new position in GFL Environmental in the third quarter worth about $60,000. Tobam raised its position in GFL Environmental by 139.5% in the second quarter. Tobam now owns 1,751 shares of the company’s stock worth $68,000 after purchasing an additional 1,020 shares in the last quarter. Avior Wealth Management LLC acquired a new position in GFL Environmental in the third quarter worth about $82,000. Finally, Signaturefd LLC raised its position in 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 purchasing an additional 409 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Price Performance

GFL opened at $46.85 on Thursday. GFL Environmental Inc. has a one year low of $28.21 and a one year high of $47.43. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The company’s 50 day simple moving average is $42.75 and its 200-day simple moving average is $40.06. The stock has a market capitalization of $18.43 billion, a P/E ratio of -35.23 and a beta of 1.16.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Sell-side analysts anticipate that GFL Environmental Inc. will post 0.59 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The business also recently declared 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 currently -3.76%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GFL shares. 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. Raymond James increased their price target on shares of 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 objective on shares of GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Finally, UBS Group upped 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. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.80.

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.