GFL Environmental Inc. $GFL Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in GFL Environmental Inc. (NYSE:GFL) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,224,997 shares of the company’s stock after purchasing an additional 138,543 shares during the quarter. Geode Capital Management LLC’s holdings in GFL Environmental were worth $95,178,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GFL. Sunbelt Securities Inc. bought a new stake in shares of GFL Environmental during the 3rd quarter valued at about $33,000. EverSource Wealth Advisors LLC grew its position in shares of GFL Environmental by 43.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after buying an additional 219 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of GFL Environmental by 45.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after buying an additional 304 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of GFL Environmental by 21.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock valued at $75,000 after buying an additional 289 shares during the last quarter. Finally, Danske Bank A S bought a new stake in shares of GFL Environmental during the 3rd quarter valued at about $82,000. Institutional investors own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

GFL has been the subject of a number of recent research reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Scotiabank lowered their price objective on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, May 4th. Wolfe Research initiated coverage on shares of GFL Environmental in a research report on Friday, March 13th. They set an “outperform” rating for the company. JPMorgan Chase & Co. downgraded shares of GFL Environmental from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $49.00 to $42.00 in a research report on Tuesday, April 14th. Finally, Barclays boosted their price objective on shares of GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.00.

GFL Environmental Trading Down 0.8%

GFL Environmental stock opened at $35.50 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32. The firm has a 50-day moving average price of $38.61 and a two-hundred day moving average price of $41.77. The firm has a market capitalization of $12.73 billion, a price-to-earnings ratio of 110.94, a PEG ratio of 2.76 and a beta of 0.71. GFL Environmental Inc. has a 52-week low of $33.33 and a 52-week high of $51.51.

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

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 13th were given a dividend of $0.0169 per share. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.02. The ex-dividend date was Monday, April 13th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. GFL Environmental’s payout ratio is presently 21.88%.

GFL Environmental 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.