Millennium Management LLC Raises Stake in GFL Environmental Inc. (NYSE:GFL)

Millennium Management LLC increased its stake in GFL Environmental Inc. (NYSE:GFL) by 40.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 5,649,169 shares of the company’s stock after buying an additional 1,614,182 shares during the quarter. Millennium Management LLC owned 1.50% of GFL Environmental worth $219,922,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbert Fund Advisors Inc. purchased a new position in shares of GFL Environmental in the 4th quarter worth about $1,329,000. Vanguard Group Inc. boosted its holdings in shares of GFL Environmental by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 7,231,470 shares of the company’s stock worth $249,558,000 after buying an additional 77,156 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in GFL Environmental by 13.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,520,450 shares of the company’s stock valued at $87,225,000 after purchasing an additional 294,432 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in GFL Environmental by 27.6% during the fourth quarter. 1832 Asset Management L.P. now owns 804,540 shares of the company’s stock valued at $27,765,000 after purchasing an additional 173,800 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in GFL Environmental by 33.8% during the first quarter. Toronto Dominion Bank now owns 74,152 shares of the company’s stock valued at $2,558,000 after purchasing an additional 18,742 shares during the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Trading Down 2.2 %

Shares of GFL opened at $39.49 on Friday. The business’s 50-day moving average price is $40.37 and its 200-day moving average price is $36.87. GFL Environmental Inc. has a twelve month low of $26.87 and a twelve month high of $43.79. The stock has a market cap of $14.87 billion, a PE ratio of 80.92 and a beta of 1.16. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.45.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.21 earnings per share for the quarter, topping 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 negative net margin of 8.78% and a positive return on equity of 3.32%. On average, equities analysts forecast that GFL Environmental Inc. will post 0.62 EPS for the current fiscal year.

GFL Environmental Announces Dividend

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

Wall Street Analysts Forecast Growth

GFL has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on shares of GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Raymond James upped their price objective on shares of GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, BMO Capital Markets downgraded shares of GFL Environmental from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $43.00 to $42.00 in a report on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.