Hsbc Holdings PLC Sells 12,230 Shares of GFL Environmental Inc. (NYSE:GFL)

Hsbc Holdings PLC cut its stake in GFL Environmental Inc. (NYSE:GFL) by 32.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,924 shares of the company’s stock after selling 12,230 shares during the period. Hsbc Holdings PLC’s holdings in GFL Environmental were worth $860,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC grew its holdings in shares of GFL Environmental by 48.9% in the fourth quarter. Signaturefd LLC now owns 1,178 shares of the company’s stock worth $41,000 after purchasing an additional 387 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of GFL Environmental by 60.1% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 1,209 shares of the company’s stock worth $42,000 after purchasing an additional 454 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of GFL Environmental by 43.1% in the third quarter. First Horizon Advisors Inc. now owns 2,531 shares of the company’s stock worth $80,000 after purchasing an additional 762 shares during the last quarter. Chilton Capital Management LLC bought a new position in shares of GFL Environmental in the fourth quarter worth about $110,000. Finally, Key Financial Inc grew its holdings in shares of GFL Environmental by 393.0% in the fourth quarter. Key Financial Inc now owns 3,594 shares of the company’s stock worth $124,000 after purchasing an additional 2,865 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Bank of America cut shares of GFL Environmental from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a report on Friday, January 19th. BMO Capital Markets increased their target price on shares of GFL Environmental from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Jefferies Financial Group increased their target price on shares of GFL Environmental from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Wells Fargo & Company increased their target price on shares of GFL Environmental from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Finally, UBS Group assumed coverage on shares of GFL Environmental in a report on Wednesday, January 31st. They set a “buy” rating and a $44.00 target price on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.83.

GFL Environmental Stock Up 5.0 %

Shares of GFL Environmental stock traded up $1.58 on Thursday, reaching $33.44. The stock had a trading volume of 2,852,229 shares, compared to its average volume of 1,152,063. The company has a 50 day moving average price of $34.26 and a 200 day moving average price of $32.71. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. GFL Environmental Inc. has a 1 year low of $26.87 and a 1 year high of $39.06. The stock has a market capitalization of $12.41 billion, a P/E ratio of -334.40 and a beta of 1.15.

GFL Environmental (NYSE:GFL) last released its earnings results on Tuesday, February 20th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. GFL Environmental had a return on equity of 4.96% and a net margin of 0.64%. As a group, equities research analysts forecast that GFL Environmental Inc. will post 0.8 EPS for the current year.

GFL Environmental Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were paid a $0.014 dividend. The ex-dividend date was Friday, April 12th. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a yield of 0.17%. GFL Environmental’s dividend payout ratio (DPR) is -60.00%.

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.