GFL Environmental Inc. (NYSE:GFL) Shares Sold by Ghisallo Capital Management LLC

Ghisallo Capital Management LLC reduced its stake in GFL Environmental Inc. (NYSE:GFL) by 80.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,000 shares of the company’s stock after selling 400,000 shares during the period. Ghisallo Capital Management LLC’s holdings in GFL Environmental were worth $3,893,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tobam acquired a new position in GFL Environmental in the first quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in GFL Environmental in the first quarter valued at approximately $39,000. Cape Investment Advisory Inc. boosted its position in shares of GFL Environmental by 325.0% during the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock worth $44,000 after buying an additional 975 shares during the period. Fifth Third Bancorp boosted its position in shares of GFL Environmental by 51.1% during the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after buying an additional 459 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in shares of GFL Environmental during the first quarter worth approximately $69,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Stock Performance

GFL opened at $39.72 on Wednesday. The company has a market capitalization of $14.95 billion, a price-to-earnings ratio of 80.59 and a beta of 1.16. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.89 and a quick ratio of 0.89. GFL Environmental Inc. has a 1-year low of $26.87 and a 1-year high of $43.79. The business has a 50 day moving average price of $40.39 and a two-hundred day moving average price of $37.01.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. Research analysts predict that GFL Environmental Inc. will post 0.62 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were issued a $0.014 dividend. The ex-dividend date was Monday, July 15th. This represents a $0.06 annualized dividend and a dividend yield of 0.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GFL shares. Royal Bank of Canada boosted their price objective on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets downgraded GFL Environmental from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $43.00 to $42.00 in a research report on Tuesday, July 9th. Finally, Raymond James boosted their price objective on GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.64.

GFL Environmental 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.