Franklin Resources Inc. Trims Holdings in GFL Environmental Inc. (NYSE:GFL)

Franklin Resources Inc. cut its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 828,638 shares of the company's stock after selling 50,816 shares during the period. Franklin Resources Inc. owned approximately 0.21% of GFL Environmental worth $33,762,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Tidal Investments LLC grew its stake in shares of GFL Environmental by 6.3% in the third quarter. Tidal Investments LLC now owns 20,853 shares of the company's stock valued at $832,000 after buying an additional 1,238 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of GFL Environmental in the third quarter valued at approximately $174,000. TCW Group Inc. grew its holdings in shares of GFL Environmental by 24.6% in the third quarter. TCW Group Inc. now owns 21,598 shares of the company's stock valued at $861,000 after purchasing an additional 4,270 shares in the last quarter. Toronto Dominion Bank increased its stake in GFL Environmental by 20.1% during the 3rd quarter. Toronto Dominion Bank now owns 104,578 shares of the company's stock worth $4,171,000 after buying an additional 17,493 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in GFL Environmental by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 918,706 shares of the company's stock worth $36,296,000 after buying an additional 65,449 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on GFL. Scotiabank boosted their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 8th. Raymond James boosted their target price on GFL Environmental from $47.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Truist Financial increased their price target on GFL Environmental from $46.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, UBS Group boosted their price objective on GFL Environmental from $47.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, GFL Environmental presently has an average rating of "Moderate Buy" and an average price target of $45.80.

GFL Environmental Stock Down 0.8 %

GFL traded down $0.35 on Thursday, reaching $45.08. The company's stock had a trading volume of 2,383,238 shares, compared to its average volume of 1,215,868. The company has a market capitalization of $17.73 billion, a price-to-earnings ratio of -33.89 and a beta of 1.16. GFL Environmental Inc. has a fifty-two week low of $30.57 and a fifty-two week high of $48.87. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average of $43.86 and a two-hundred day moving average of $41.05.

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

GFL Environmental Dividend Announcement

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

About GFL Environmental

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.