Pinnbrook Capital Management LP Has $4.04 Million Position in GFL Environmental Inc. $GFL

Pinnbrook Capital Management LP increased its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 59.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,214 shares of the company’s stock after purchasing an additional 31,911 shares during the period. Pinnbrook Capital Management LP’s holdings in GFL Environmental were worth $4,037,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in GFL Environmental by 35.2% in the third quarter. JPMorgan Chase & Co. now owns 1,344,569 shares of the company’s stock valued at $63,706,000 after buying an additional 349,720 shares in the last quarter. Generate Investment Management Ltd acquired a new position in shares of GFL Environmental in the third quarter valued at approximately $7,891,000. Munro Partners bought a new stake in shares of GFL Environmental during the second quarter worth $12,926,000. Citigroup Inc. increased its position in shares of GFL Environmental by 214.7% during the third quarter. Citigroup Inc. now owns 114,849 shares of the company’s stock worth $5,444,000 after acquiring an additional 78,349 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of GFL Environmental during the second quarter worth $457,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup cut their price objective on shares of GFL Environmental from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Wolfe Research began coverage on GFL Environmental in a report on Friday. They set an “outperform” rating for the company. Weiss Ratings downgraded GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. boosted their price target on GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, The Goldman Sachs Group assumed coverage on GFL Environmental in a research report on Monday, November 24th. They set a “neutral” rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.67.

GFL Environmental Stock Performance

Shares of GFL opened at $42.99 on Friday. GFL Environmental Inc. has a 12 month low of $40.83 and a 12 month high of $52.00. The firm has a fifty day simple moving average of $43.24 and a 200 day simple moving average of $44.69. The stock has a market capitalization of $15.39 billion, a price-to-earnings ratio of 6.32, a PEG ratio of 3.37 and a beta of 0.86. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.05.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.12. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business earned ($0.58) EPS. The company’s revenue was up 7.3% compared to the same quarter last year. Research analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

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

GFL Environmental 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.