Public Employees Retirement System of Ohio Buys New Position in GFL Environmental Inc. $GFL

Public Employees Retirement System of Ohio purchased a new position in shares of GFL Environmental Inc. (NYSE:GFL) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 88,287 shares of the company’s stock, valued at approximately $3,248,000.

Several other institutional investors and hedge funds have also modified their holdings of GFL. S&CO Inc. purchased a new position in GFL Environmental during the second quarter worth about $10,798,000. Versant Capital Management Inc grew its stake in GFL Environmental by 148.3% during the second quarter. Versant Capital Management Inc now owns 1,800 shares of the company’s stock worth $66,000 after buying an additional 1,075 shares during the period. Parallel Advisors LLC boosted its position in GFL Environmental by 256.9% during the 1st quarter. Parallel Advisors LLC now owns 1,542 shares of the company’s stock worth $64,000 after purchasing an additional 1,110 shares during the period. CTC Alternative Strategies Ltd. acquired a new stake in shares of GFL Environmental in the first quarter valued at about $588,000. Finally, Bank of America Corp DE grew its position in GFL Environmental by 43.8% in the first quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock valued at $77,064,000 after acquiring an additional 563,001 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Trading Up 0.6%

GFL Environmental stock opened at $43.72 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s 50-day moving average is $40.47 and its 200-day moving average is $39.85. GFL Environmental Inc. has a 1 year low of $33.33 and a 1 year high of $48.57. The company has a market cap of $15.78 billion, a P/E ratio of -82.49, a PEG ratio of 2.82 and a beta of 0.68.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.33 billion. GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%.The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. On average, equities analysts expect that GFL Environmental Inc. will post 0.65 earnings per share for the current year.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 13th were given a $0.0169 dividend. The ex-dividend date was Monday, July 13th. This represents a $0.07 annualized dividend and a yield of 0.2%. GFL Environmental’s dividend payout ratio is -13.21%.

Wall Street Analysts Forecast Growth

GFL has been the subject of several analyst reports. Zacks Research downgraded shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a report on Monday. Scotiabank reissued an “outperform” rating on shares of GFL Environmental in a report on Wednesday. Citigroup set a $51.00 price objective on GFL Environmental and gave the company a “buy” rating in a research note on Monday, July 6th. Finally, Weiss Ratings upgraded GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.25.

GFL Environmental Company Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.