15,221 Shares in GFL Environmental Inc. $GFL Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC bought a new position in GFL Environmental Inc. (NYSE:GFL) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,221 shares of the company’s stock, valued at approximately $635,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GFL. Bank of Nova Scotia raised its stake in shares of GFL Environmental by 17.1% during the third quarter. Bank of Nova Scotia now owns 357,808 shares of the company’s stock valued at $16,950,000 after acquiring an additional 52,121 shares during the last quarter. Nordea Investment Management AB increased its holdings in GFL Environmental by 40.8% during the 4th quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock valued at $290,083,000 after purchasing an additional 1,932,442 shares during the period. Generali Asset Management SPA SGR purchased a new position in GFL Environmental during the 4th quarter valued at about $1,327,000. Vestcor Inc raised its position in GFL Environmental by 25.7% during the 4th quarter. Vestcor Inc now owns 391,815 shares of the company’s stock valued at $16,828,000 after purchasing an additional 80,000 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in GFL Environmental by 12.0% in the 4th quarter. Legal & General Group Plc now owns 1,225,212 shares of the company’s stock worth $52,700,000 after buying an additional 131,332 shares during the period. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Stock Up 2.3%

Shares of NYSE:GFL opened at $41.44 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32. The stock has a fifty day simple moving average of $36.60 and a two-hundred day simple moving average of $40.49. GFL Environmental Inc. has a 12-month low of $33.33 and a 12-month high of $51.51. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 129.51, a PEG ratio of 3.15 and a beta of 0.70.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) earnings per share. On average, research analysts anticipate that GFL Environmental Inc. will post 0.54 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be paid a $0.0169 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, July 13th. GFL Environmental’s dividend payout ratio is currently 21.88%.

Wall Street Analysts Forecast Growth

GFL has been the topic of a number of recent analyst reports. Citigroup set a $51.00 price objective on GFL Environmental and gave the stock a “buy” rating in a research report on Monday. Wolfe Research initiated coverage on GFL Environmental in a research note on Friday, March 13th. They issued an “outperform” rating for the company. Scotiabank reduced their price objective on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Finally, Weiss Ratings cut shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.78.

GFL Environmental Company Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.