LPL Financial LLC lifted its stake in GFL Environmental Inc. (NYSE:GFL - Free Report) by 23.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,253 shares of the company's stock after buying an additional 24,200 shares during the period. LPL Financial LLC's holdings in GFL Environmental were worth $5,712,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of GFL. American Century Companies Inc. raised its stake in GFL Environmental by 40.4% during the fourth quarter. American Century Companies Inc. now owns 2,412,639 shares of the company's stock worth $107,459,000 after acquiring an additional 693,884 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of GFL Environmental during the 4th quarter worth about $18,836,000. Generate Investment Management Ltd acquired a new stake in shares of GFL Environmental during the 4th quarter worth about $15,041,000. Sei Investments Co. lifted its holdings in GFL Environmental by 32.7% during the 4th quarter. Sei Investments Co. now owns 911,616 shares of the company's stock valued at $40,603,000 after purchasing an additional 224,743 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in GFL Environmental by 15.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,292,419 shares of the company's stock valued at $57,541,000 after buying an additional 169,437 shares in the last quarter. Institutional investors own 64.70% of the company's stock.
Analysts Set New Price Targets
GFL has been the subject of a number of research analyst reports. Citigroup cut their target price on shares of GFL Environmental from $56.00 to $53.00 and set a "buy" rating for the company 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. Stifel Nicolaus upgraded GFL Environmental from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Truist Financial upped their price target on shares of GFL Environmental from $54.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Finally, National Bankshares restated an "outperform" rating on shares of GFL Environmental in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $51.25.
Read Our Latest Report on GFL Environmental
GFL Environmental Trading Up 1.7 %
NYSE:GFL traded up $0.79 on Friday, hitting $48.29. 1,790,714 shares of the stock were exchanged, compared to its average volume of 1,456,561. The stock has a market capitalization 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. GFL Environmental Inc. has a 52 week low of $30.57 and a 52 week high of $49.35. The company's 50-day moving average price is $46.49 and its 200 day moving average price is $44.47.
GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, topping 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 the consensus estimate of $1.98 billion. On average, equities research analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current year.
GFL Environmental Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be given a $0.0154 dividend. This is a positive change from GFL Environmental's previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental's dividend payout ratio (DPR) is currently -3.87%.
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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