Polar Asset Management Partners Inc. Purchases New Shares in GFL Environmental Inc. (NYSE:GFL)

Polar Asset Management Partners Inc. bought a new stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 35,100 shares of the company's stock, valued at approximately $1,400,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GFL. FMR LLC grew its stake in GFL Environmental by 7.4% during the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company's stock valued at $1,003,591,000 after purchasing an additional 1,728,598 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of GFL Environmental by 2.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company's stock worth $471,287,000 after buying an additional 257,486 shares in the last quarter. Fred Alger Management LLC increased its stake in shares of GFL Environmental by 64.3% in the third quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company's stock worth $407,619,000 after buying an additional 3,999,363 shares during the last quarter. Millennium Management LLC raised its holdings in GFL Environmental by 40.0% in the second quarter. Millennium Management LLC now owns 5,649,169 shares of the company's stock valued at $219,922,000 after acquiring an additional 1,614,182 shares in the last quarter. Finally, Maverick Capital Ltd. boosted its stake in GFL Environmental by 11.3% during the 3rd quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company's stock valued at $145,889,000 after acquiring an additional 372,534 shares during the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GFL. Scotiabank boosted their price objective on GFL Environmental from $50.00 to $51.00 and gave the company a "sector outperform" rating in a report on Friday, November 8th. 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 report on Friday, November 8th. UBS Group raised their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Truist Financial upped their price objective on GFL Environmental from $46.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $45.80.

GFL Environmental Price Performance

NYSE:GFL traded down $0.33 during midday trading on Friday, hitting $46.03. 2,477,824 shares of the stock were exchanged, compared to its average volume of 1,209,289. GFL Environmental Inc. has a one year low of $28.21 and a one year high of $48.87. The company has a market capitalization of $18.11 billion, a price-to-earnings ratio of -34.61 and a beta of 1.16. The business has a 50-day moving average price of $42.89 and a two-hundred day moving average price of $40.11. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share 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 business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. Sell-side analysts predict that GFL Environmental Inc. will post 0.59 EPS for the current year.

GFL Environmental Dividend Announcement

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