Spartan Fund Management Inc. Makes New $60,000 Investment in GFL Environmental Inc. (NYSE:GFL)

Spartan Fund Management Inc. purchased a new stake in GFL Environmental Inc. (NYSE:GFL) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,500 shares of the company’s stock, valued at approximately $60,000.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in GFL Environmental by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 7,231,470 shares of the company’s stock worth $249,558,000 after purchasing an additional 77,156 shares in the last quarter. Capital Insight Partners LLC lifted its position in GFL Environmental by 37.3% during the first quarter. Capital Insight Partners LLC now owns 34,830 shares of the company’s stock valued at $1,202,000 after acquiring an additional 9,462 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in GFL Environmental by 3.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 463,216 shares of the company’s stock valued at $15,983,000 after acquiring an additional 14,625 shares in the last quarter. Van ECK Associates Corp increased its position in shares of GFL Environmental by 20.4% during the first quarter. Van ECK Associates Corp now owns 107,907 shares of the company’s stock worth $3,723,000 after purchasing an additional 18,259 shares in the last quarter. Finally, Findlay Park Partners LLP acquired a new position in shares of GFL Environmental during the first quarter worth $35,686,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GFL shares. Raymond James boosted their target price on 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 GFL Environmental from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $43.00 to $42.00 in a research note on Tuesday, July 9th. Royal Bank of Canada lifted their target price on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Scotiabank initiated coverage on shares of GFL Environmental in a research report on Friday, October 4th. They issued a “sector outperform” rating and a $50.00 target price on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.56.

GFL Environmental Trading Down 0.2 %

Shares of GFL Environmental stock traded down $0.08 during trading hours on Tuesday, hitting $41.40. The company’s stock had a trading volume of 244,021 shares, compared to its average volume of 1,214,809. The stock has a market cap of $15.59 billion, a price-to-earnings ratio of -27.59 and a beta of 1.16. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.89. GFL Environmental Inc. has a twelve month low of $26.87 and a twelve month high of $43.79. The firm has a fifty day moving average of $40.81 and a 200-day moving average of $37.62.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. Research analysts forecast that GFL Environmental Inc. will post 0.62 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be paid a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is -3.33%.

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.