GFL Environmental Inc. (NYSE:GFL) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in GFL Environmental Inc. (NYSE:GFL - Free Report) by 18.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 968,669 shares of the company's stock after purchasing an additional 152,072 shares during the quarter. JPMorgan Chase & Co. owned 0.25% of GFL Environmental worth $43,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in GFL. Generate Investment Management Ltd acquired a new position in shares of GFL Environmental during the 4th quarter worth $15,041,000. Tobam purchased a new stake in GFL Environmental during the fourth quarter worth about $1,846,000. Duff & Phelps Investment Management Co. grew its position in GFL Environmental by 14.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 310,918 shares of the company's stock worth $12,399,000 after buying an additional 39,558 shares during the period. National Bank of Canada FI increased its holdings in GFL Environmental by 16.9% in the third quarter. National Bank of Canada FI now owns 214,007 shares of the company's stock valued at $8,536,000 after buying an additional 31,003 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of GFL Environmental during the 4th quarter valued at approximately $18,836,000. Hedge funds and other institutional investors own 64.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GFL. Citigroup lowered their price target on GFL Environmental from $56.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday. Stifel Nicolaus upgraded GFL Environmental from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Scotiabank lifted their price target on GFL Environmental from $52.00 to $54.00 and gave the stock an "outperform" rating in a research note on Tuesday. Royal Bank of Canada reissued an "outperform" rating and issued a $53.00 price objective on shares of GFL Environmental in a research note on Monday, February 24th. Finally, National Bankshares restated an "outperform" rating on shares of GFL Environmental in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $51.25.

Remove Ads

GFL Environmental Price Performance

GFL stock traded up $0.79 during trading on Friday, hitting $48.29. The stock had a trading volume of 1,790,714 shares, compared to its average volume of 1,456,561. The stock has a market cap of $18.99 billion, a price-to-earnings ratio of -36.30 and a beta of 1.09. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The company's 50 day moving average price is $46.49 and its two-hundred day moving average price is $44.47. GFL Environmental Inc. has a 1-year low of $30.57 and a 1-year high of $49.35.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.16 earnings per share 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 business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.98 billion. On average, sell-side analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. This is a positive change from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's dividend payout ratio is currently -3.87%.

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.