GFL Environmental Inc. (NYSE:GFL) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 918,706 shares of the company’s stock after purchasing an additional 65,449 shares during the period. Geode Capital Management LLC’s holdings in GFL Environmental were worth $36,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Continuum Advisory LLC boosted its holdings in GFL Environmental by 60.6% in the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock valued at $29,000 after purchasing an additional 254 shares during the last quarter. Truist Financial Corp grew its position in shares of GFL Environmental by 1.8% during the second quarter. Truist Financial Corp now owns 15,463 shares of the company’s stock worth $602,000 after buying an additional 268 shares in the last quarter. Signaturefd LLC increased its stake in shares of GFL Environmental by 23.5% in the second quarter. Signaturefd LLC now owns 2,149 shares of the company’s stock worth $84,000 after buying an additional 409 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in GFL Environmental by 3.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company’s stock valued at $838,000 after acquiring an additional 664 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in GFL Environmental by 2.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,293 shares of the company’s stock valued at $1,769,000 after acquiring an additional 848 shares during the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Price Performance

Shares of NYSE GFL opened at $44.71 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $17.59 billion, a PE ratio of -33.62 and a beta of 1.16. GFL Environmental Inc. has a 1-year low of $30.57 and a 1-year high of $48.87. The business’s fifty day moving average price is $44.28 and its two-hundred day moving average price is $41.33.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. On average, research analysts expect that GFL Environmental Inc. will post 0.59 EPS for the current 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 given a dividend of $0.014 per share. The ex-dividend date was Wednesday, October 16th. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental’s dividend payout ratio is presently -3.76%.

Wall Street Analysts Forecast Growth

GFL has been the subject of several research analyst reports. Truist Financial boosted their target price 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. Scotiabank increased their target price on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. UBS Group boosted their price target on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Raymond James raised their price objective on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, GFL Environmental currently has an average rating of “Moderate Buy” and a consensus target price of $45.80.

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.