Daiwa Securities Group Inc. Decreases Stake in GFL Environmental Inc. (NYSE:GFL)

Daiwa Securities Group Inc. lowered its position in GFL Environmental Inc. (NYSE:GFL) by 40.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,305 shares of the company’s stock after selling 19,781 shares during the quarter. Daiwa Securities Group Inc.’s holdings in GFL Environmental were worth $1,169,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GFL. Tidal Investments LLC increased its holdings in GFL Environmental by 68.6% in the 1st quarter. Tidal Investments LLC now owns 18,133 shares of the company’s stock worth $626,000 after acquiring an additional 7,377 shares during the last quarter. Cape Investment Advisory Inc. grew its holdings in GFL Environmental by 325.0% during the 1st quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock valued at $44,000 after buying an additional 975 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in GFL Environmental by 292.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 23,024 shares of the company’s stock valued at $896,000 after buying an additional 17,158 shares in the last quarter. Threadgill Financial LLC grew its holdings in GFL Environmental by 17.1% during the 2nd quarter. Threadgill Financial LLC now owns 11,841 shares of the company’s stock valued at $461,000 after buying an additional 1,726 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in GFL Environmental by 43.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,732 shares of the company’s stock valued at $379,000 after buying an additional 2,937 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on GFL. Royal Bank of Canada lifted their target price 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 lifted their target price on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Truist Financial lifted their target price on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 8th. UBS Group lifted their price target on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Scotiabank lifted their price target on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

GFL Environmental Stock Up 1.8 %

Shares of GFL opened at $47.08 on Friday. The firm has a market cap of $18.52 billion, a P/E ratio of -35.40 and a beta of 1.15. The stock has a 50 day simple moving average of $42.34 and a two-hundred day simple moving average of $39.69. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. GFL Environmental Inc. has a 1 year low of $27.64 and a 1 year high of $47.16.

GFL Environmental (NYSE:GFL) last issued its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. On average, analysts forecast that GFL Environmental Inc. will post 0.59 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 0.12%. The ex-dividend date was Wednesday, October 16th. GFL Environmental’s dividend payout ratio is currently -4.51%.

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.