Prana Capital Management LP Cuts Stock Holdings in GFL Environmental Inc. $GFL

Prana Capital Management LP reduced its position in GFL Environmental Inc. (NYSE:GFL) by 31.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,483 shares of the company’s stock after selling 23,701 shares during the period. Prana Capital Management LP’s holdings in GFL Environmental were worth $2,439,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GFL. Berbice Capital Management LLC bought a new stake in shares of GFL Environmental in the 2nd quarter worth $25,000. Sunbelt Securities Inc. bought a new position in shares of GFL Environmental during the third quarter valued at $33,000. EverSource Wealth Advisors LLC boosted its position in shares of GFL Environmental by 43.1% during the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after buying an additional 219 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in GFL Environmental by 45.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after buying an additional 304 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in GFL Environmental by 21.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock worth $75,000 after buying an additional 289 shares in the last quarter. 64.70% of the stock is owned by institutional investors.

GFL Environmental Price Performance

NYSE GFL opened at $42.44 on Wednesday. The company has a 50-day moving average price of $43.23 and a 200-day moving average price of $44.51. GFL Environmental Inc. has a 52 week low of $40.83 and a 52 week high of $52.00. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $15.19 billion, a P/E ratio of 6.24, a PEG ratio of 3.30 and a beta of 0.86.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.12. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.67 billion. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.58) earnings per share. Equities research analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were paid a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Tuesday, January 13th. GFL Environmental’s dividend payout ratio (DPR) is currently 0.88%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. The Goldman Sachs Group began coverage on shares of GFL Environmental in a research note on Monday, November 24th. They set a “neutral” rating and a $50.00 target price on the stock. Scotiabank decreased their price objective on shares of GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a report on Thursday, February 12th. Wolfe Research assumed coverage on shares of GFL Environmental in a research report on Friday, March 13th. They set an “outperform” rating on the stock. Weiss Ratings cut shares of GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.67.

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.