National Bank of Canada FI lifted its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 16.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 214,007 shares of the company's stock after purchasing an additional 31,003 shares during the quarter. National Bank of Canada FI owned 0.06% of GFL Environmental worth $8,536,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its position in shares of GFL Environmental by 43.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,732 shares of the company's stock valued at $379,000 after acquiring an additional 2,937 shares during the period. Fifth Third Bancorp grew its position in shares of GFL Environmental by 51.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company's stock valued at $53,000 after purchasing an additional 459 shares in the last quarter. Capital Insight Partners LLC increased its holdings in shares of GFL Environmental by 2.4% in the second quarter. Capital Insight Partners LLC now owns 35,650 shares of the company's stock worth $1,388,000 after purchasing an additional 820 shares during the period. Schwartz Investment Counsel Inc. increased its holdings in shares of GFL Environmental by 5.8% in the second quarter. Schwartz Investment Counsel Inc. now owns 210,722 shares of the company's stock worth $8,203,000 after purchasing an additional 11,600 shares during the period. Finally, Tobam raised its position in shares of GFL Environmental by 139.5% in the second quarter. Tobam now owns 1,751 shares of the company's stock worth $68,000 after buying an additional 1,020 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company's stock.
GFL Environmental Trading Down 0.3 %
GFL stock traded down $0.12 during midday trading on Thursday, hitting $45.35. The company had a trading volume of 512,049 shares, compared to its average volume of 1,199,802. The stock has a market cap of $17.84 billion, a price-to-earnings ratio of -34.20 and a beta of 1.16. GFL Environmental Inc. has a 52 week low of $30.12 and a 52 week high of $48.87. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The stock's 50 day moving average price is $43.38 and its 200 day moving average price is $40.56.
GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share 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, equities research analysts expect that GFL Environmental Inc. will post 0.59 earnings per share for the current fiscal year.
GFL Environmental Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a $0.014 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. GFL Environmental's payout ratio is presently -3.76%.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on GFL shares. UBS Group boosted their price objective on GFL Environmental from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Truist Financial upped their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Raymond James raised their price target on GFL Environmental from $47.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, Scotiabank increased their price objective on GFL Environmental from $50.00 to $51.00 and gave the company a "sector outperform" rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $45.80.
Read Our Latest Research Report on GFL Environmental
About GFL Environmental
(
Free Report)
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.
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