Verition Fund Management LLC Raises Holdings in GFL Environmental Inc. (NYSE:GFL)

Verition Fund Management LLC raised its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 539.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 84,468 shares of the company's stock after buying an additional 71,268 shares during the period. Verition Fund Management LLC's holdings in GFL Environmental were worth $3,369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp increased its holdings in GFL Environmental by 51.1% in the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company's stock valued at $53,000 after buying an additional 459 shares in the last quarter. Spartan Fund Management Inc. purchased a new position in GFL Environmental during the third quarter worth approximately $60,000. Tobam grew its holdings in GFL Environmental by 139.5% in the second quarter. Tobam now owns 1,751 shares of the company's stock valued at $68,000 after purchasing an additional 1,020 shares during the period. Avior Wealth Management LLC purchased a new stake in shares of GFL Environmental in the third quarter valued at approximately $82,000. Finally, Signaturefd LLC raised its stake in shares of GFL Environmental by 23.5% during the 2nd quarter. Signaturefd LLC now owns 2,149 shares of the company's stock worth $84,000 after buying an additional 409 shares during the period. Institutional investors and hedge funds own 64.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Raymond James lifted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. 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 research note on Friday, November 8th. Scotiabank raised their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the company a "sector outperform" rating in a research note on Friday, November 8th. Finally, UBS Group boosted their price objective on GFL Environmental from $47.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $45.80.

GFL Environmental Stock Down 1.1 %

NYSE:GFL traded down $0.51 during trading hours on Thursday, hitting $46.34. The company had a trading volume of 320,507 shares, compared to its average volume of 1,202,539. GFL Environmental Inc. has a 1 year low of $28.21 and a 1 year high of $47.43. The company has a 50-day moving average of $42.75 and a 200 day moving average of $40.06. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

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

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a dividend of $0.014 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. GFL Environmental's dividend payout ratio (DPR) is presently -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.