GFL Environmental Inc. $GFL Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in GFL Environmental Inc. (NYSE:GFL) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,224,997 shares of the company’s stock after purchasing an additional 138,543 shares during the period. Geode Capital Management LLC owned approximately 0.62% of GFL Environmental worth $95,178,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its holdings in GFL Environmental by 12.0% in the 4th quarter. Legal & General Group Plc now owns 1,225,212 shares of the company’s stock valued at $52,700,000 after purchasing an additional 131,332 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in GFL Environmental in the 4th quarter valued at $44,299,000. MQS Management LLC acquired a new stake in GFL Environmental in the 4th quarter valued at $308,000. Global Retirement Partners LLC increased its holdings in GFL Environmental by 26,310.0% in the 4th quarter. Global Retirement Partners LLC now owns 13,205 shares of the company’s stock valued at $567,000 after purchasing an additional 13,155 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in GFL Environmental in the 4th quarter valued at $299,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GFL has been the subject of several recent research reports. Royal Bank Of Canada increased their price target on GFL Environmental from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Scotiabank decreased their price objective on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Weiss Ratings cut shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Finally, Wolfe Research initiated coverage on shares of GFL Environmental in a research report on Friday, March 13th. They issued an “outperform” rating for the company. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.00.

GFL Environmental Stock Performance

Shares of GFL stock opened at $35.50 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51. GFL Environmental Inc. has a one year low of $33.33 and a one year high of $51.51. The company’s 50-day simple moving average is $38.61 and its 200-day simple moving average is $41.77. The stock has a market capitalization of $12.73 billion, a price-to-earnings ratio of 110.94, a PEG ratio of 2.76 and a beta of 0.71.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts anticipate that GFL Environmental Inc. will post 0.54 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were given a dividend of $0.0169 per share. The ex-dividend date of this dividend was Monday, April 13th. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.02. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. GFL Environmental’s dividend payout ratio is 21.88%.

GFL Environmental Company Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.