Fmr LLC Purchases 2,506,021 Shares of GFL Environmental Inc. (NYSE:GFL)

Fmr LLC increased its holdings in GFL Environmental Inc. (NYSE:GFL) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,664,678 shares of the company’s stock after purchasing an additional 2,506,021 shares during the quarter. Fmr LLC owned approximately 0.07% of GFL Environmental worth $1,233,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Generate Investment Management Ltd bought a new stake in shares of GFL Environmental in the 4th quarter worth approximately $15,041,000. Tobam bought a new stake in GFL Environmental in the fourth quarter valued at $1,846,000. Duff & Phelps Investment Management Co. increased its position in GFL Environmental by 14.6% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 310,918 shares of the company’s stock valued at $12,399,000 after purchasing an additional 39,558 shares during the period. National Bank of Canada FI raised its holdings in GFL Environmental by 16.9% in the 3rd quarter. National Bank of Canada FI now owns 214,007 shares of the company’s stock worth $8,536,000 after purchasing an additional 31,003 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its position in shares of GFL Environmental by 9.9% in the 4th quarter. Bleakley Financial Group LLC now owns 7,954 shares of the company’s stock worth $354,000 after purchasing an additional 718 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on GFL shares. Scotiabank boosted their price target on shares of GFL Environmental from $50.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Wednesday, March 5th. UBS Group increased their target price on GFL Environmental from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $53.00 target price on shares of GFL Environmental in a research note on Monday, February 24th. Truist Financial upped their price target on GFL Environmental from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. Finally, National Bankshares restated an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and a consensus target price of $51.38.

GFL Environmental Price Performance

GFL opened at $44.76 on Monday. The firm has a market cap of $17.61 billion, a PE ratio of -33.65 and a beta of 1.09. The stock has a 50-day moving average price of $46.15 and a 200-day moving average price of $44.24. GFL Environmental Inc. has a 1 year low of $30.57 and a 1 year high of $49.35. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58.

GFL Environmental (NYSE:GFL) last issued its earnings results on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.98 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. Sell-side analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a yield of 0.14%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio (DPR) is currently -3.23%.

GFL Environmental Company Profile

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.