Truist Financial Corp Acquires 268 Shares of GFL Environmental Inc. (NYSE:GFL)

Truist Financial Corp boosted its holdings in GFL Environmental Inc. (NYSE:GFL) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,463 shares of the company’s stock after acquiring an additional 268 shares during the period. Truist Financial Corp’s holdings in GFL Environmental were worth $602,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Capital Research Global Investors raised its stake in GFL Environmental by 17.4% in 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 period. Vanguard Group Inc. grew its holdings in GFL Environmental by 9.4% in the 1st 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 in the last quarter. Fred Alger Management LLC grew its holdings in GFL Environmental by 7.1% in the 2nd quarter. Fred Alger Management LLC now owns 6,221,767 shares of the company’s stock valued at $242,213,000 after buying an additional 411,128 shares in the last quarter. Millennium Management LLC grew its holdings in GFL Environmental by 40.0% in 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 in the last quarter. Finally, Maverick Capital Ltd. grew its holdings in GFL Environmental by 22.1% in the 2nd quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock valued at $127,911,000 after buying an additional 595,259 shares in the last quarter. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Price Performance

Shares of GFL opened at $40.80 on Wednesday. GFL Environmental Inc. has a 1 year low of $26.87 and a 1 year high of $43.79. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $15.36 billion, a price-to-earnings ratio of -27.20 and a beta of 1.16. The business has a 50-day moving average of $40.69 and a 200-day moving average of $37.41.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data 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. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. As a group, equities research analysts anticipate that GFL Environmental Inc. will post 0.62 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be given a dividend of $0.014 per share. The ex-dividend date is Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.14%. GFL Environmental’s dividend payout ratio (DPR) is -3.33%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GFL shares. BMO Capital Markets lowered 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. Royal Bank of Canada upped their price objective on GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Raymond James upped their price objective on GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Scotiabank started coverage on GFL Environmental in a report on Friday, October 4th. They set a “sector outperform” rating and a $50.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, GFL Environmental has a consensus rating of “Moderate Buy” and an average target price of $43.09.

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.