Envestnet Asset Management Inc. Acquires 29,467 Shares of GFL Environmental Inc. (NYSE:GFL)

Envestnet Asset Management Inc. increased its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 16.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 207,157 shares of the company's stock after purchasing an additional 29,467 shares during the period. Envestnet Asset Management Inc. owned approximately 0.05% of GFL Environmental worth $9,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Erste Asset Management GmbH lifted its holdings in shares of GFL Environmental by 2.0% during the 4th quarter. Erste Asset Management GmbH now owns 13,371 shares of the company's stock valued at $597,000 after buying an additional 261 shares during the period. Metis Global Partners LLC lifted its holdings in GFL Environmental by 5.4% in the fourth quarter. Metis Global Partners LLC now owns 5,790 shares of the company's stock valued at $258,000 after acquiring an additional 298 shares during the period. Blue Trust Inc. boosted its position in GFL Environmental by 124.9% in the fourth quarter. Blue Trust Inc. now owns 551 shares of the company's stock worth $25,000 after purchasing an additional 306 shares during the last quarter. US Bancorp DE grew its stake in shares of GFL Environmental by 12.5% during the 4th quarter. US Bancorp DE now owns 2,890 shares of the company's stock valued at $129,000 after purchasing an additional 321 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its position in shares of GFL Environmental by 1.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 31,503 shares of the company's stock valued at $1,403,000 after purchasing an additional 351 shares during the last quarter. Institutional investors own 64.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GFL. Raymond James set a $56.00 target price on shares of GFL Environmental and gave the company an "outperform" rating in a research report on Wednesday, April 16th. Citigroup decreased their target price on GFL Environmental from $56.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada restated an "outperform" rating and issued a $53.00 price target on shares of GFL Environmental in a research report on Monday, February 24th. UBS Group boosted their price objective on GFL Environmental from $50.00 to $57.00 and gave the company a "buy" rating in a research note on Friday, April 4th. Finally, Scotiabank lifted their price target on shares of GFL Environmental from $52.00 to $54.00 and gave the company an "outperform" rating in a report on Tuesday, April 8th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.00.

GFL Environmental Price Performance

GFL Environmental stock traded up $0.52 during midday trading on Thursday, reaching $48.59. 271,164 shares of the stock traded hands, compared to its average volume of 1,468,275. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a 12 month low of $30.57 and a 12 month high of $49.45. The stock's fifty day moving average is $46.86 and its 200-day moving average is $44.91. The stock has a market cap of $19.11 billion, a P/E ratio of -36.53 and a beta of 1.09.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.98 billion. As a group, equities research analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be paid a $0.0154 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. This is an increase from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's dividend payout ratio is currently -3.87%.

GFL Environmental 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.