Fmr LLC Raises Stake in GFL Environmental Inc. (NYSE:GFL)

FMR LLC boosted its holdings in GFL Environmental Inc. (NYSE:GFL - Free Report) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,158,657 shares of the company's stock after purchasing an additional 1,728,598 shares during the quarter. FMR LLC owned approximately 6.68% of GFL Environmental worth $1,003,591,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GFL. Cape Investment Advisory Inc. grew its position in GFL Environmental by 325.0% in the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company's stock valued at $44,000 after acquiring an additional 975 shares during the period. Fifth Third Bancorp lifted its holdings in GFL Environmental by 51.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company's stock worth $53,000 after purchasing an additional 459 shares during the last quarter. Spartan Fund Management Inc. acquired a new stake in GFL Environmental during the 3rd quarter worth approximately $60,000. Tobam lifted its holdings in GFL Environmental by 139.5% during the 2nd quarter. Tobam now owns 1,751 shares of the company's stock worth $68,000 after purchasing an additional 1,020 shares during the last quarter. Finally, Avior Wealth Management LLC acquired a new position in GFL Environmental in the 3rd quarter valued at $82,000. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Price Performance

NYSE GFL traded down $0.36 on Thursday, hitting $46.26. 674,987 shares of the company were exchanged, compared to its average volume of 1,214,340. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a 1-year low of $26.87 and a 1-year high of $47.11. The company has a market cap of $18.20 billion, a P/E ratio of -34.78 and a beta of 1.15. The firm has a 50 day moving average of $42.19 and a two-hundred day moving average of $39.59.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. On average, equities analysts predict that GFL Environmental Inc. will post 0.59 EPS for the current year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date was Wednesday, October 16th. GFL Environmental's payout ratio is currently -3.76%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GFL shares. Scotiabank boosted their price objective on GFL Environmental from $50.00 to $51.00 and gave the company a "sector outperform" rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their price target on GFL Environmental from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Raymond James boosted their price target on GFL Environmental from $47.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. UBS Group boosted their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Truist Financial increased their price objective on shares of GFL Environmental from $46.00 to $54.00 and gave the company a "buy" rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, GFL Environmental has a consensus rating of "Moderate Buy" and a consensus price target of $45.80.

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.