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

Fmr LLC grew its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 10.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,664,678 shares of the company’s stock after buying an additional 2,506,021 shares during the period. Fmr LLC owned approximately 7.03% of GFL Environmental worth $1,233,223,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. lifted its position in GFL Environmental by 124.9% in the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after acquiring an additional 306 shares in the last quarter. Berbice Capital Management LLC bought a new stake in GFL Environmental during the fourth quarter worth $27,000. Continuum Advisory LLC boosted its position in GFL Environmental by 60.6% in the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after purchasing an additional 254 shares during the last quarter. SRH Advisors LLC bought a new position in GFL Environmental in the 4th quarter valued at $89,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of GFL Environmental by 350.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company’s stock valued at $107,000 after purchasing an additional 1,867 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

GFL Environmental Trading Down 7.0 %

Shares of GFL stock opened at $44.76 on Monday. The company has a market capitalization of $17.61 billion, a PE ratio of -33.65 and a beta of 1.09. GFL Environmental Inc. has a 52-week low of $30.57 and a 52-week high of $49.35. The business’s fifty day moving average is $46.15 and its 200 day moving average is $44.24. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.98 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. On average, equities research analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be issued a $0.0154 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.14%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s payout ratio 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.