Does GFL Environmental (GFL) Have an Opportunity to Improve?

Investment management company Ave Maria recently released its “Ave Maria World Equity Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -4.88% compared to the MSCI All Country World Index’s -3.40% return. Year-to-date the fund returned 9.62% compared to the 10.06% return for the index. You can check the top 5 holdings of the fund to know its best picks in 2023.

Ave Maria World Equity Fund highlighted stocks like GFL Environmental Inc. (NYSE:GFL) in the third quarter 2023 investor letter. Headquartered in Vaughan, Canada, GFL Environmental Inc. (NYSE:GFL) offers non-hazardous solid waste management and environmental services. On December 13, 2023, GFL Environmental Inc. (NYSE:GFL) stock closed at $31.78 per share. One-month return of GFL Environmental Inc. (NYSE:GFL) was 5.83%, and its shares gained 10.58% of their value over the last 52 weeks. GFL Environmental Inc. (NYSE:GFL) has a market capitalization of $11.758 billion.

Ave Maria World Equity Fund made the following comment about GFL Environmental Inc. (NYSE:GFL) in its Q3 2023 investor letter:

“GFL Environmental Inc. (NYSE:GFL) is the fourth largest integrated solid waste company in North America that provides collection, recycling, and disposal services to markets in Canada and the United States. GFL has a track record of successfully integrating assets. The company has ample opportunities to materially improve operating income and free cash flow by implementing standard industry practices.”

An excavator at a landfill site operating amidst a pile of solid waste.

GFL Environmental Inc. (NYSE:GFL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 26 hedge fund portfolios held GFL Environmental Inc. (NYSE:GFL) at the end of third quarter which was 27 in the previous quarter.

We discussed GFL Environmental Inc. (NYSE:GFL) in another article and shared the list of best recycling stocks to buy. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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 Disclosure: None. This article is originally published at Insider Monkey.