Avanza Fonder AB Invests $1.06 Million in GFL Environmental Inc. (NYSE:GFL)

Avanza Fonder AB purchased a new position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,875 shares of the company's stock, valued at approximately $1,063,000.

A number of other large investors have also modified their holdings of the company. Continuum Advisory LLC lifted its stake in shares of GFL Environmental by 60.6% in the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company's stock worth $29,000 after acquiring an additional 254 shares during the period. Spartan Fund Management Inc. bought a new position in GFL Environmental during the 3rd quarter valued at $60,000. Avior Wealth Management LLC bought a new stake in shares of GFL Environmental in the 3rd quarter worth $82,000. US Bancorp DE lifted its holdings in shares of GFL Environmental by 51.5% in the third quarter. US Bancorp DE now owns 2,569 shares of the company's stock valued at $102,000 after buying an additional 873 shares during the period. Finally, Signaturefd LLC boosted its stake in GFL Environmental by 30.7% during the third quarter. Signaturefd LLC now owns 2,808 shares of the company's stock valued at $112,000 after buying an additional 659 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company's stock.

Wall Street Analysts Forecast Growth

GFL has been the topic of a number of research reports. Truist Financial boosted their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, November 8th. UBS Group lifted their target price on GFL Environmental from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Scotiabank upped their target price on GFL Environmental from $50.00 to $51.00 and gave the company a "sector outperform" rating in a report on Friday, November 8th. Finally, Raymond James lifted their price target on GFL Environmental from $47.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $47.00.

GFL Environmental Stock Performance

Shares of GFL Environmental stock traded down $0.65 during midday trading on Monday, hitting $41.85. The company had a trading volume of 2,238,350 shares, compared to its average volume of 1,167,046. GFL Environmental Inc. has a 1-year low of $30.57 and a 1-year high of $48.87. The business's 50 day simple moving average is $44.99 and its two-hundred day simple moving average is $42.05. The stock has a market cap of $16.46 billion, a PE ratio of -31.46 and a beta of 1.17. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. As a group, equities analysts predict that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 13th will be paid a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date is Monday, January 13th. GFL Environmental's dividend payout ratio is -4.51%.

About GFL Environmental

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.