Boussard & Gavaudan Investment Management LLP Makes New Investment in GFL Environmental Inc. (NYSE:GFL)

Boussard & Gavaudan Investment Management LLP bought a new position in shares of GFL Environmental Inc. (NYSE:GFL) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 64,838 shares of the company’s stock, valued at approximately $2,584,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cape Investment Advisory Inc. boosted its stake in shares of GFL Environmental by 325.0% during the 1st quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock worth $44,000 after acquiring an additional 975 shares during the period. Fifth Third Bancorp boosted its stake in GFL Environmental by 51.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock valued at $53,000 after purchasing an additional 459 shares during the period. Spartan Fund Management Inc. bought a new stake in GFL Environmental in the 3rd quarter valued at $60,000. Tobam boosted its stake in GFL Environmental by 139.5% in the 2nd 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. Finally, Avior Wealth Management LLC bought a new stake in GFL Environmental in the 3rd quarter valued at $82,000. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Price Performance

GFL Environmental stock opened at $46.25 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. GFL Environmental Inc. has a 52 week low of $26.87 and a 52 week high of $47.11. The stock has a market capitalization of $18.19 billion, a P/E ratio of -34.77 and a beta of 1.15. The stock has a fifty day moving average of $42.05 and a 200-day moving average of $39.54.

GFL Environmental (NYSE:GFL) last posted its quarterly 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. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. On average, sell-side analysts expect that GFL Environmental Inc. will post 0.59 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 0.12%. GFL Environmental’s dividend payout ratio (DPR) is currently -3.76%.

Analyst Upgrades and Downgrades

GFL has been the subject of several recent research reports. Scotiabank boosted their price target on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. Truist Financial boosted their price target on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their price target on GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Raymond James boosted their price target on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, UBS Group upped their target price on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

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.