Capital Research Global Investors Increases Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Capital Research Global Investors grew its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,973,784 shares of the company’s stock after purchasing an additional 2,751,618 shares during the period. Capital Research Global Investors owned about 6.86% of GFL Environmental worth $1,201,406,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GFL. CANADA LIFE ASSURANCE Co lifted its position in shares of GFL Environmental by 0.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 91,316 shares of the company’s stock worth $3,998,000 after buying an additional 526 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in GFL Environmental by 5.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 539,906 shares of the company’s stock worth $24,037,000 after acquiring an additional 30,000 shares in the last quarter. MSH Capital Advisors LLC purchased a new position in shares of GFL Environmental during the fourth quarter worth approximately $223,000. EAM Global Investors LLC acquired a new stake in GFL Environmental during the 4th quarter worth $2,897,000. Finally, EAM Investors LLC acquired a new position in GFL Environmental in the fourth quarter valued at $1,215,000. 64.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GFL shares. Scotiabank lifted their target price on GFL Environmental from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Tuesday, April 8th. Truist Financial boosted their price target on shares of GFL Environmental from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. Citigroup cut their target price on GFL Environmental from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada restated an “outperform” rating and issued a $53.00 price target on shares of GFL Environmental in a research note on Monday, February 24th. Finally, Raymond James set a $56.00 price objective on GFL Environmental and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

GFL Environmental Stock Performance

NYSE:GFL opened at $48.49 on Friday. The firm has a 50-day moving average price of $46.76 and a two-hundred day moving average price of $44.75. The company has a market capitalization of $19.07 billion, a P/E ratio of -36.46 and a beta of 1.09. GFL Environmental Inc. has a twelve month low of $30.57 and a twelve month high of $49.45. 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 announced its earnings results on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $1.42 billion during 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%. As a group, research analysts expect that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th will be given a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.13%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s payout ratio is -3.87%.

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.