GFL Environmental Inc. (NYSE:GFL) Shares Sold by Fairbanks Capital Management Inc.

Fairbanks Capital Management Inc. decreased its position in GFL Environmental Inc. (NYSE:GFL) by 50.8% in the 2nd quarter, Holdings Channel reports. The fund owned 15,853 shares of the company’s stock after selling 16,373 shares during the period. Fairbanks Capital Management Inc.’s holdings in GFL Environmental were worth $617,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Tobam acquired a new position in GFL Environmental in the 1st quarter worth $25,000. Headlands Technologies LLC acquired a new position in shares of GFL Environmental in the first quarter worth about $39,000. Cape Investment Advisory Inc. boosted its holdings in GFL Environmental by 325.0% in the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock valued at $44,000 after purchasing an additional 975 shares during the last quarter. Fifth Third Bancorp grew its stake in GFL Environmental by 51.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock valued at $53,000 after purchasing an additional 459 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in GFL Environmental during the 1st quarter worth approximately $69,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GFL shares. Raymond James lifted their price target on shares of GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. BMO Capital Markets lowered shares of GFL Environmental from an “outperform” rating to a “market perform” rating and cut their target price for the company from $43.00 to $42.00 in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada increased their price target on shares of GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, GFL Environmental has a consensus rating of “Moderate Buy” and a consensus price target of $42.64.

GFL Environmental Price Performance

GFL opened at $39.83 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.45. The company’s 50-day moving average price is $40.08 and its 200 day moving average price is $36.45. GFL Environmental Inc. has a fifty-two week low of $26.87 and a fifty-two week high of $43.79. The firm has a market cap of $14.99 billion, a price-to-earnings ratio of 83.04 and a beta of 1.16.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. As a group, sell-side analysts expect that GFL Environmental Inc. will post 0.62 earnings per share for the current year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were given a dividend of $0.014 per share. The ex-dividend date was Monday, July 15th. This represents a $0.06 annualized dividend and a dividend yield of 0.14%.

GFL Environmental Company Profile

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.