Oppenheimer Asset Management Inc. Purchases 19,520 Shares of GFL Environmental Inc. (NYSE:GFL)

Oppenheimer Asset Management Inc. increased its position in shares of GFL Environmental Inc. (NYSE:GFL) by 93.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,304 shares of the company’s stock after purchasing an additional 19,520 shares during the period. Oppenheimer Asset Management Inc.’s holdings in GFL Environmental were worth $1,607,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GFL. Cape Investment Advisory Inc. increased its holdings in GFL Environmental by 325.0% in 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 during the period. Fifth Third Bancorp increased its stake in GFL Environmental by 51.1% in the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock valued at $53,000 after acquiring an additional 459 shares during the period. Spartan Fund Management Inc. acquired a new position in GFL Environmental in the third quarter worth about $60,000. Tobam lifted its stake in GFL Environmental by 139.5% during the second quarter. Tobam now owns 1,751 shares of the company’s stock worth $68,000 after purchasing an additional 1,020 shares during the period. Finally, Signaturefd LLC boosted its holdings in GFL Environmental by 23.5% during the second quarter. Signaturefd LLC now owns 2,149 shares of the company’s stock valued at $84,000 after purchasing an additional 409 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Price Performance

Shares of GFL stock opened at $44.00 on Monday. GFL Environmental Inc. has a 1 year low of $26.87 and a 1 year high of $46.48. The company has a current ratio of 0.58, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm’s 50 day moving average is $41.10 and its 200-day moving average is $38.85. The firm has a market capitalization of $16.57 billion, a price-to-earnings ratio of -33.08 and a beta of 1.15.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data 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 firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. Sell-side analysts forecast that GFL Environmental Inc. will post 0.6 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a $0.014 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a yield of 0.13%. GFL Environmental’s payout ratio is -4.51%.

Analysts Set New Price Targets

GFL has been the subject of a number of recent research reports. Royal Bank of Canada increased their target price on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Raymond James lifted their price objective on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Scotiabank upped their target price on shares of 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 lifted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Truist Financial upped their price objective on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.80.

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.