Bank of New York Mellon Corp Has $8.34 Million Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Bank of New York Mellon Corp increased its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 13.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 187,325 shares of the company’s stock after purchasing an additional 22,699 shares during the quarter. Bank of New York Mellon Corp’s holdings in GFL Environmental were worth $8,343,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Continuum Advisory LLC increased its stake in GFL Environmental by 60.6% during the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after purchasing an additional 254 shares in the last quarter. Blue Trust Inc. increased its stake in GFL Environmental by 124.9% during the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock worth $25,000 after purchasing an additional 306 shares in the last quarter. Berbice Capital Management LLC bought a new stake in GFL Environmental during the 4th quarter worth approximately $27,000. FDx Advisors Inc. increased its stake in GFL Environmental by 5.5% during the 4th quarter. FDx Advisors Inc. now owns 11,782 shares of the company’s stock worth $525,000 after purchasing an additional 616 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its stake in GFL Environmental by 9.9% during the 4th quarter. Bleakley Financial Group LLC now owns 7,954 shares of the company’s stock worth $354,000 after purchasing an additional 718 shares in the last quarter. 64.70% of the stock is owned by institutional investors.

GFL Environmental Price Performance

Shares of GFL opened at $46.24 on Friday. The company has a market cap of $18.19 billion, a price-to-earnings ratio of -34.77 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 company’s fifty day simple moving average is $44.75 and its 200 day simple moving average is $43.49. 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 (NYSE:GFL) last issued its earnings results on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.98 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. On average, research analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 13th were issued a dividend of $0.014 per share. The ex-dividend date of this dividend was Monday, January 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. GFL Environmental’s payout ratio is -3.23%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GFL. National Bankshares reissued an “outperform” rating on shares of GFL Environmental in a research note on Tuesday. Stifel Nicolaus upgraded shares of GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $53.00 price objective on shares of GFL Environmental in a report on Monday, February 24th. Citigroup initiated coverage on shares of GFL Environmental in a report on Monday, January 27th. They issued a “buy” rating and a $53.00 price objective on the stock. Finally, Scotiabank lifted their price objective on shares of GFL Environmental from $50.00 to $52.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.78.

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.