Fairbanks Capital Management Inc. Cuts Stock Position in GFL Environmental Inc. (NYSE:GFL)

Fairbanks Capital Management Inc. cut its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 50.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,853 shares of the company's stock after selling 16,373 shares during the quarter. Fairbanks Capital Management Inc.'s holdings in GFL Environmental were worth $617,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of GFL Environmental by 54.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 552,531 shares of the company's stock valued at $19,068,000 after purchasing an additional 194,899 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in GFL Environmental in the fourth quarter valued at $208,000. Massachusetts Financial Services Co. MA grew its position in shares of GFL Environmental by 3.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,022,382 shares of the company's stock worth $449,402,000 after acquiring an additional 478,412 shares in the last quarter. Roubaix Capital LLC acquired a new stake in GFL Environmental during the fourth quarter worth about $3,789,000. Finally, Ironwood Investment Counsel LLC acquired a new position in shares of GFL Environmental during the fourth quarter valued at $274,000. 64.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Raymond James raised their price objective on shares of GFL Environmental from $43.00 to $45.00 and gave the company 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 lowered their target price for the company from $43.00 to $42.00 in a report on Tuesday, July 9th. Finally, Royal Bank of Canada increased their price objective on shares of GFL Environmental from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Three 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 currently has a consensus rating of "Moderate Buy" and an average price target of $42.64.

GFL Environmental Stock Performance

Shares of NYSE GFL traded down $0.02 during midday trading on Monday, hitting $39.81. The company's stock had a trading volume of 1,060,314 shares, compared to its average volume of 1,221,901. The stock has a fifty day moving average price of $40.08 and a 200 day moving average price of $36.45. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.45. GFL Environmental Inc. has a one year low of $26.87 and a one year high of $43.79. The firm has a market capitalization of $14.99 billion, a price-to-earnings ratio of 83.04 and a beta of 1.16.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.51 billion. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. On average, research analysts forecast that GFL Environmental Inc. will post 0.62 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

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

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.