Raymond James & Associates Has $16.82 Million Position in GFL Environmental Inc. (NYSE:GFL)

Raymond James & Associates lowered its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 35.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 421,653 shares of the company's stock after selling 228,767 shares during the period. Raymond James & Associates owned approximately 0.11% of GFL Environmental worth $16,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors raised its stake in GFL Environmental by 17.4% during the 1st quarter. Capital Research Global Investors now owns 19,851,514 shares of the company's stock valued at $684,877,000 after acquiring an additional 2,935,811 shares during the last quarter. Millennium Management LLC grew its holdings in GFL Environmental by 40.0% during the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company's stock valued at $219,922,000 after buying an additional 1,614,182 shares during the last quarter. Findlay Park Partners LLP purchased a new stake in GFL Environmental during the 1st quarter worth about $35,686,000. Progeny 3 Inc. grew its holdings in shares of 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 buying an additional 748,350 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of GFL Environmental by 9.4% during the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company's stock valued at $273,053,000 after buying an additional 683,120 shares during the period. Hedge funds and other institutional investors own 64.70% of the company's stock.

GFL Environmental Price Performance

Shares of GFL stock traded down $0.94 during mid-day trading on Friday, reaching $40.08. The company's stock had a trading volume of 1,158,255 shares, compared to its average volume of 998,345. The company has a market cap of $15.09 billion, a P/E ratio of -26.72 and a beta of 1.16. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.89. GFL Environmental Inc. has a 1-year low of $26.87 and a 1-year high of $43.79. The firm's 50-day moving average is $40.83 and its two-hundred day moving average is $37.79.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.51 billion. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. On average, research analysts predict that GFL Environmental Inc. will post 0.61 earnings per share for the current year.

GFL Environmental Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be paid a dividend of $0.014 per share. The ex-dividend date is Wednesday, October 16th. This represents a $0.06 annualized dividend and a dividend yield of 0.14%. GFL Environmental's dividend payout ratio is currently -4.00%.

Analyst Upgrades and Downgrades

GFL has been the subject of several analyst reports. Raymond James upped their target price on GFL Environmental from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, July 22nd. Royal Bank of Canada upped their target price on shares of GFL Environmental from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Scotiabank initiated coverage on shares of GFL Environmental in a report on Friday, October 4th. They set a "sector outperform" rating and a $50.00 target price on the stock. Finally, BMO Capital Markets downgraded GFL Environmental from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $43.00 to $42.00 in a report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, GFL Environmental presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.56.

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.