Raymond James Trust N.A. lessened its stake in GFL Environmental Inc. (NYSE:GFL - Free Report) by 54.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,228 shares of the company's stock after selling 12,176 shares during the period. Raymond James Trust N.A.'s holdings in GFL Environmental were worth $408,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in GFL Environmental by 40.0% in the second quarter. Millennium Management LLC now owns 5,649,169 shares of the company's stock valued at $219,922,000 after purchasing an additional 1,614,182 shares during the period. Progeny 3 Inc. grew its holdings in GFL Environmental by 516.3% during the second quarter. Progeny 3 Inc. now owns 893,300 shares of the company's stock worth $34,776,000 after acquiring an additional 748,350 shares during the period. Vanguard Group Inc. raised its position in GFL Environmental by 9.4% in the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company's stock worth $273,053,000 after acquiring an additional 683,120 shares in the last quarter. Maverick Capital Ltd. boosted its position in shares of GFL Environmental by 22.1% during the 2nd quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company's stock worth $127,911,000 after purchasing an additional 595,259 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of GFL Environmental by 26.1% during the 2nd quarter. Marshall Wace LLP now owns 2,476,752 shares of the company's stock worth $96,420,000 after purchasing an additional 512,735 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.
GFL Environmental Stock Performance
Shares of GFL traded down $0.30 during trading hours on Wednesday, reaching $46.32. 64,234 shares of the company traded hands, compared to its average volume of 1,211,585. The stock has a fifty day simple moving average of $41.91 and a 200 day simple moving average of $39.49. GFL Environmental Inc. has a fifty-two week low of $26.87 and a fifty-two week high of $47.11. 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 (NYSE:GFL - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $1.48 billion for 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%. Equities research analysts predict that GFL Environmental Inc. will post 0.59 EPS for the current year.
GFL Environmental Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a $0.014 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 annualized dividend and a yield of 0.12%. GFL Environmental's dividend payout ratio (DPR) is presently -4.51%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. UBS Group raised their price objective 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. Royal Bank of Canada lifted their price target on shares of GFL Environmental from $46.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. Scotiabank lifted their price objective on GFL Environmental from $50.00 to $51.00 and gave the stock a "sector outperform" rating in a report on Friday, November 8th. Truist Financial upped their target price on GFL Environmental from $46.00 to $54.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, GFL Environmental presently has a consensus rating of "Moderate Buy" and an average target price of $45.80.
Read Our Latest Analysis on GFL
GFL Environmental Company Profile
(
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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