Tobam Makes New Investment in GFL Environmental Inc. (NYSE:GFL)

Tobam purchased a new position in shares of GFL Environmental Inc. (NYSE:GFL) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 41,448 shares of the company’s stock, valued at approximately $1,846,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in GFL Environmental by 124.9% during the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock worth $25,000 after buying an additional 306 shares during the period. Berbice Capital Management LLC bought a new stake in GFL Environmental during the 4th quarter worth approximately $27,000. Continuum Advisory LLC raised its stake in shares of GFL Environmental by 60.6% in the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after purchasing an additional 254 shares during the last quarter. Spartan Fund Management Inc. bought a new position in shares of GFL Environmental in the third quarter valued at approximately $60,000. Finally, Avior Wealth Management LLC purchased a new position in shares of GFL Environmental during the third quarter valued at approximately $82,000. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Stock Performance

Shares of NYSE GFL opened at $46.01 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a one year low of $30.57 and a one year high of $48.87. The business’s fifty day moving average price is $44.42 and its 200-day moving average price is $42.41.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. On average, research analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 13th were paid a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date was Monday, January 13th. GFL Environmental’s payout ratio is currently -4.51%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GFL. Citigroup started coverage on shares of GFL Environmental in a report on Monday, January 27th. They set a “buy” rating and a $53.00 price objective on the stock. Scotiabank reduced their price objective on shares of GFL Environmental from $51.00 to $50.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. 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 note on Friday, November 8th. 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 report on Thursday, November 7th. Finally, Truist Financial boosted their price objective on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, GFL Environmental has an average rating of “Moderate Buy” and a consensus target price of $49.00.

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.