Paralel Advisors LLC Buys New Shares in GFL Environmental Inc. (NYSE:GFL)

Paralel Advisors LLC bought a new position in GFL Environmental Inc. (NYSE:GFL - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 1,000,000 shares of the company's stock, valued at approximately $44,540,000. GFL Environmental accounts for approximately 1.9% of Paralel Advisors LLC's investment portfolio, making the stock its 14th largest holding. Paralel Advisors LLC owned 0.25% of GFL Environmental as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of GFL. Generate Investment Management Ltd purchased a new position in GFL Environmental during the fourth quarter valued at $15,041,000. Tobam bought a new stake in GFL Environmental during the fourth quarter worth about $1,846,000. National Bank of Canada FI grew its holdings in GFL Environmental by 16.9% in the third 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 during the period. Raymond James Financial Inc. bought a new position in shares of GFL Environmental during the fourth quarter valued at approximately $18,836,000. Finally, Bleakley Financial Group LLC lifted its holdings in shares of GFL Environmental by 9.9% during the fourth quarter. Bleakley Financial Group LLC now owns 7,954 shares of the company's stock valued at $354,000 after purchasing an additional 718 shares during the last quarter. Institutional investors own 64.70% of the company's stock.

GFL Environmental Stock Performance

Shares of GFL traded up $0.10 during mid-day trading on Tuesday, hitting $49.05. 377,542 shares of the company traded hands, compared to its average volume of 1,453,627. GFL Environmental Inc. has a 1 year low of $30.57 and a 1 year high of $49.44. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a 50-day moving average price of $46.56 and a two-hundred day moving average price of $44.57. The stock has a market cap of $19.30 billion, a price-to-earnings ratio of -36.88 and a beta of 1.09.

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GFL Environmental (NYSE:GFL - Get Free Report) 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. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.98 billion. Equities analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The company also recently declared 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 is an increase from GFL Environmental's previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. GFL Environmental's payout ratio is currently -3.87%.

Analyst Ratings Changes

GFL has been the topic of several recent research reports. Stifel Nicolaus upgraded GFL Environmental from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. National Bankshares restated an "outperform" rating on shares of GFL Environmental in a report on Tuesday, March 11th. Citigroup dropped their price target on shares of GFL Environmental from $56.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada reissued an "outperform" rating and set a $53.00 price objective on shares of GFL Environmental in a research report on Monday, February 24th. Finally, Truist Financial lifted their target price on shares of GFL Environmental from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, GFL Environmental has an average rating of "Moderate Buy" and a consensus target price of $51.25.

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.