Fmr LLC Has $1 Billion Position in GFL Environmental Inc. (NYSE:GFL)

Fmr LLC raised its position in GFL Environmental Inc. (NYSE:GFL) by 7.4% during the third quarter, Holdings Channel reports. The institutional investor owned 25,158,657 shares of the company’s stock after buying an additional 1,728,598 shares during the quarter. Fmr LLC owned approximately 0.07% of GFL Environmental worth $1,003,591,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GFL. Vanguard Group Inc. increased 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 purchasing an additional 683,120 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in GFL Environmental by 36.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 79,721 shares of the company’s stock worth $2,746,000 after acquiring an additional 21,254 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in GFL Environmental by 31.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 13,123 shares of the company’s stock worth $453,000 after acquiring an additional 3,166 shares during the period. Tidal Investments LLC lifted its stake in shares of GFL Environmental by 68.6% in the 1st quarter. Tidal Investments LLC now owns 18,133 shares of the company’s stock valued at $626,000 after purchasing an additional 7,377 shares during the period. Finally, Cape Investment Advisory Inc. boosted its position in shares of GFL Environmental by 325.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock worth $44,000 after purchasing an additional 975 shares during the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GFL has been the subject of a number of recent analyst reports. Scotiabank upped their price objective on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. UBS Group lifted their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Raymond James upped their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Truist Financial lifted their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada upped their price objective 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. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.80.

GFL Environmental Trading Down 0.8 %

GFL opened at $46.25 on Thursday. The firm’s fifty day simple moving average is $42.05 and its 200 day simple moving average is $39.54. The stock has a market capitalization of $18.19 billion, a P/E ratio of -34.77 and a beta of 1.15. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a 12 month low of $26.87 and a 12 month high of $47.11.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. As a group, research analysts anticipate that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.12%. GFL Environmental’s dividend payout ratio (DPR) is presently -3.76%.

GFL Environmental 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.