Hsbc Holdings PLC Reduces Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Hsbc Holdings PLC lessened its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 46.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,724 shares of the company’s stock after selling 12,541 shares during the quarter. Hsbc Holdings PLC’s holdings in GFL Environmental were worth $573,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Tobam acquired a new stake in GFL Environmental during the 1st quarter worth $25,000. Headlands Technologies LLC purchased a new stake in shares of GFL Environmental in the 1st quarter valued at about $39,000. 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 valued at $44,000 after purchasing an additional 975 shares during the period. Fifth Third Bancorp grew its stake in GFL Environmental by 51.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after buying an additional 459 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in GFL Environmental during the first quarter worth approximately $69,000. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Stock Up 1.4 %

Shares of GFL Environmental stock opened at $39.88 on Tuesday. GFL Environmental Inc. has a one year low of $26.87 and a one year high of $43.79. The company has a market cap of $15.01 billion, a P/E ratio of 81.41 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. The firm has a fifty day moving average of $40.38 and a two-hundred day moving average of $36.97.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates 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, analysts forecast that GFL Environmental Inc. will post 0.62 earnings per share for the current year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were paid a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, July 15th.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BMO Capital Markets downgraded GFL Environmental from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $43.00 to $42.00 in a report on Tuesday, July 9th. Raymond James increased their price target on shares of GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada lifted their price objective 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. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.64.

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.