Russell Investments Group Ltd. Trims Position in GFL Environmental Inc. $GFL

Russell Investments Group Ltd. decreased its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 62.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,041 shares of the company’s stock after selling 333,133 shares during the quarter. Russell Investments Group Ltd.’s holdings in GFL Environmental were worth $10,193,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of GFL Environmental by 1.7% in the first quarter. Vanguard Group Inc. now owns 8,843,436 shares of the company’s stock valued at $427,166,000 after purchasing an additional 146,256 shares during the period. S&CO Inc. raised its position in GFL Environmental by 86.6% during the 2nd quarter. S&CO Inc. now owns 114,260 shares of the company’s stock valued at $5,765,000 after purchasing an additional 53,030 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of GFL Environmental by 11.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 994,849 shares of the company’s stock worth $50,200,000 after buying an additional 105,186 shares during the period. Aviva PLC bought a new position in shares of GFL Environmental during the 2nd quarter worth $6,361,000. Finally, Intech Investment Management LLC purchased a new position in shares of GFL Environmental during the second quarter valued at $457,000. 64.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GFL shares. Wells Fargo & Company initiated coverage on shares of GFL Environmental in a research note on Thursday, November 13th. They issued an “overweight” rating for the company. UBS Group upped their price target on shares of GFL Environmental from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Raymond James Financial set a $57.00 price objective on shares of GFL Environmental and gave the company an “outperform” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. cut their price objective on shares of GFL Environmental from $54.00 to $46.75 and set a “neutral” rating on the stock in a report on Friday, November 7th. Finally, Barclays started coverage on GFL Environmental in a report on Friday, September 19th. They set an “overweight” rating and a $62.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $57.08.

GFL Environmental Stock Up 0.4%

Shares of GFL Environmental stock opened at $44.81 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.98. The company has a market cap of $16.28 billion, a P/E ratio of 7.02 and a beta of 0.89. The firm’s 50 day moving average price is $45.21 and its 200-day moving average price is $47.66. GFL Environmental Inc. has a 52-week low of $41.29 and a 52-week high of $52.00.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the business earned $0.33 earnings per share. GFL Environmental’s revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th were given a $0.0154 dividend. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. GFL Environmental’s dividend payout ratio (DPR) is presently 0.94%.

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.