15,000 Shares in GFL Environmental Inc. $GFL Acquired by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. purchased a new stake in shares of GFL Environmental Inc. (NYSE:GFL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,000 shares of the company’s stock, valued at approximately $627,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Tobam raised its holdings in GFL Environmental by 10.5% in the 4th quarter. Tobam now owns 3,079 shares of the company’s stock worth $132,000 after acquiring an additional 293 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in GFL Environmental by 36.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,335 shares of the company’s stock valued at $56,000 after purchasing an additional 360 shares during the last quarter. MQS Management LLC boosted its stake in GFL Environmental by 8.8% during the 1st quarter. MQS Management LLC now owns 7,815 shares of the company’s stock valued at $326,000 after purchasing an additional 634 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of GFL Environmental by 40.4% in the 3rd quarter. Versant Capital Management Inc now owns 2,527 shares of the company’s stock worth $106,000 after purchasing an additional 727 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of GFL Environmental in the 1st quarter worth $32,000. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a research note on Monday, August 31st. BMO Capital Markets reaffirmed a “market perform” rating on shares of GFL Environmental in a research report on Thursday. Scotiabank dropped their price objective on GFL Environmental from $57.00 to $55.00 and set a “sector outperform” rating on the stock in a research report on Thursday. Weiss Ratings upgraded GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. Finally, Barclays initiated coverage on GFL Environmental in a report on Wednesday, September 2nd. They issued an “overweight” rating and a $58.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.44.

GFL Environmental Stock Up 1.5%

GFL opened at $43.62 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.34. The firm has a 50 day moving average price of $42.05 and a 200-day moving average price of $39.74. GFL Environmental Inc. has a twelve month low of $33.33 and a twelve month high of $47.01. The stock has a market capitalization of $15.74 billion, a price-to-earnings ratio of 68.21, a PEG ratio of 3.33 and a beta of 0.72.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data 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 the consensus estimate of $1.33 billion. GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the company earned $0.26 EPS. Equities research analysts forecast that GFL Environmental Inc. will post 0.55 earnings per share for the current year.

GFL Environmental Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be given a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 14th. GFL Environmental’s payout ratio is -13.21%.

About GFL Environmental

GFL Environmental Inc is a North American environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste.

GFL also provides recycling and organics management services, including the processing of recyclable materials and organic waste. Its environmental services include liquid waste management, soil remediation, infrastructure services and other specialized solutions for industrial and commercial customers.

Founded in 2007, GFL is headquartered in Vaughan, Ontario, and serves communities and customers across Canada and the United States.