CTC Alternative Strategies Ltd. Buys Shares of 14,100 GFL Environmental Inc. $GFL

CTC Alternative Strategies Ltd. bought a new position in GFL Environmental Inc. (NYSE:GFL) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,100 shares of the company’s stock, valued at approximately $588,000. GFL Environmental comprises about 1.3% of CTC Alternative Strategies Ltd.’s investment portfolio, making the stock its 25th largest position.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares during the period. Advisory Services Network LLC grew its position in GFL Environmental by 4.1% during the third quarter. Advisory Services Network LLC now owns 6,537 shares of the company’s stock valued at $310,000 after buying an additional 256 shares during the period. Tobam grew its position in GFL Environmental by 10.5% during the fourth quarter. Tobam now owns 3,079 shares of the company’s stock valued at $132,000 after buying an additional 293 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in GFL Environmental by 45.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after buying an additional 304 shares during the last quarter. Finally, Engineers Gate Manager LP increased its holdings in GFL Environmental by 6.8% during the second quarter. Engineers Gate Manager LP now owns 5,187 shares of the company’s stock valued at $262,000 after buying an additional 331 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Trading Down 0.1%

GFL Environmental stock opened at $41.32 on Friday. GFL Environmental Inc. has a 12-month low of $33.33 and a 12-month high of $51.51. The firm has a market capitalization of $14.82 billion, a price-to-earnings ratio of -77.97, a P/E/G ratio of 3.13 and a beta of 0.70. The firm has a 50 day moving average of $37.39 and a 200 day moving average of $40.08. The company has a current ratio of 0.75, a quick ratio of 1.51 and a debt-to-equity ratio of 1.34.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.03). The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.33 billion. GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. GFL Environmental’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. As a group, research analysts predict that GFL Environmental Inc. will post 0.56 earnings per share for the current year.

GFL Environmental Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Zacks Research lowered GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Scotiabank reaffirmed an “outperform” rating on shares of GFL Environmental in a report on Friday. Finally, Citigroup set a $51.00 target price on GFL Environmental and gave the company a “buy” rating in a research report on Monday, July 6th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.75.

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.