Should You Hold GFL Environmental (GFL) For the Long Term?

Investment management company Ave Maria recently released its “Ave Maria Focused Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the fourth quarter, the fund returned 12.39% compared to an 8.74% return for the S&P MidCap 400 Growth Index and a 7.56% return for the S&P 500 Index. For the full year, the fund returned -34.98% compared to -18.96% and -18.11% returns respectively for the indexes. You can check the top 5 holdings of the fund to know its best picks in 2022.

Ave Maria Focused Fund highlighted stocks like GFL Environmental Inc. (NYSE:GFL) in the fourth quarter 2022 investor letter. Headquartered in Vaughan, Canada, GFL Environmental Inc. (NYSE:GFL) provides solid waste management and environmental services. On April 3, 2023, GFL Environmental Inc. (NYSE:GFL) stock closed at $34.53 per share. One-month return of GFL Environmental Inc. (NYSE:GFL) was 5.60%, and its shares gained 11.17% of their value over the last 52 weeks. GFL Environmental Inc. (NYSE:GFL) has a market capitalization of $12.712 billion.

Ave Maria Focused Fund made the following comment about GFL Environmental Inc. (NYSE:GFL) in its Q4 2022 investor letter:

“GFL Environmental Inc. (NYSE:GFL): GFL is in the process of selling some non-core assets which will allow the company to reduce debt. Also, the company’s renewable natural gas (RNG) business could start to generate free cash flow in the second half of this year.”

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GFL Environmental Inc. (NYSE:GFL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held GFL Environmental Inc. (NYSE:GFL) at the end of the fourth quarter which was 28 in the previous quarter.

We discussed GFL Environmental Inc. (NYSE:GFL) in another article and shared Meridian Hedged Equity Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.