Norges Bank Buys New Shares in GFL Environmental Inc. (NYSE:GFL)

Norges Bank acquired a new position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,838,666 shares of the company's stock, valued at approximately $126,420,000. Norges Bank owned approximately 0.72% of GFL Environmental at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GFL. Continuum Advisory LLC grew its stake in GFL Environmental by 60.6% in the third quarter. Continuum Advisory LLC now owns 673 shares of the company's stock worth $29,000 after purchasing an additional 254 shares in the last quarter. Erste Asset Management GmbH increased its holdings in shares of GFL Environmental by 2.0% in the 4th quarter. Erste Asset Management GmbH now owns 13,371 shares of the company's stock valued at $597,000 after acquiring an additional 261 shares during the last quarter. Metis Global Partners LLC raised its position in shares of GFL Environmental by 5.4% during the 4th quarter. Metis Global Partners LLC now owns 5,790 shares of the company's stock valued at $258,000 after acquiring an additional 298 shares in the last quarter. Blue Trust Inc. lifted its stake in GFL Environmental by 124.9% during the fourth quarter. Blue Trust Inc. now owns 551 shares of the company's stock worth $25,000 after purchasing an additional 306 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in GFL Environmental by 12.5% in the fourth quarter. US Bancorp DE now owns 2,890 shares of the company's stock worth $129,000 after purchasing an additional 321 shares during the period. Institutional investors own 64.70% of the company's stock.

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Analysts Set New Price Targets

GFL has been the topic of a number of recent research reports. Citigroup raised their price target on shares of GFL Environmental from $51.00 to $56.00 and gave the stock a "buy" rating in a research report on Wednesday. Scotiabank lifted their target price on GFL Environmental from $50.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Wednesday, March 5th. Truist Financial increased their price target on GFL Environmental from $54.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday. UBS Group boosted their price objective on GFL Environmental from $50.00 to $57.00 and gave the company a "buy" rating in a research report on Friday. Finally, Stifel Nicolaus raised GFL Environmental from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $51.38.

GFL Environmental Stock Performance

GFL stock traded down $3.37 during trading on Friday, reaching $44.76. 3,841,428 shares of the company's stock were exchanged, compared to its average volume of 1,404,991. The firm has a market cap of $17.61 billion, a PE ratio of -33.65 and a beta of 1.09. 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 Inc. has a 1-year low of $30.57 and a 1-year high of $49.35. The company's fifty day moving average price is $46.15 and its 200-day moving average price is $44.20.

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, topping the consensus estimate 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, research analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be issued 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 0.14%. GFL Environmental's dividend payout ratio is -3.23%.

GFL Environmental Company Profile

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.