Creative Planning Acquires 8,309 Shares of GFL Environmental Inc. (NYSE:GFL)

Creative Planning raised its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 125.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,934 shares of the company’s stock after acquiring an additional 8,309 shares during the quarter. Creative Planning’s holdings in GFL Environmental were worth $581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tobam bought a new stake in GFL Environmental during the first quarter valued at about $25,000. Headlands Technologies LLC purchased a new stake in GFL Environmental in the 1st quarter worth approximately $39,000. Cape Investment Advisory Inc. raised its stake in GFL Environmental by 325.0% during the 1st quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock worth $44,000 after acquiring an additional 975 shares during the period. Fifth Third Bancorp boosted its position in shares of 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 during the period. Finally, Central Pacific Bank Trust Division bought a new position in shares of GFL Environmental in the first quarter worth approximately $69,000. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GFL. Scotiabank assumed coverage on shares of GFL Environmental in a research note on Friday, October 4th. They set a “sector outperform” rating and a $50.00 target price on the stock. Raymond James increased their target price on GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Royal Bank of Canada boosted their price target on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets cut shares of GFL Environmental from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $43.00 to $42.00 in a research report on Tuesday, July 9th. Three equities research analysts have 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 presently has an average rating of “Moderate Buy” and an average target price of $43.09.

GFL Environmental Stock Performance

GFL Environmental stock opened at $40.50 on Monday. 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 Inc. has a twelve month low of $26.87 and a twelve month high of $43.79. The company’s 50-day moving average price is $40.62 and its 200-day moving average price is $37.32. The company has a market cap of $15.25 billion, a PE ratio of -27.00 and a beta of 1.16.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data 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 business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. On average, equities research analysts forecast that GFL Environmental Inc. will post 0.62 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be paid 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 is Wednesday, October 16th. GFL Environmental’s dividend payout ratio is currently -3.33%.

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.