Advisory Services Network LLC Decreases Stake in GFL Environmental Inc. (NYSE:GFL)

Advisory Services Network LLC decreased its holdings in GFL Environmental Inc. (NYSE:GFL) by 75.2% in the 4th quarter, HoldingsChannel reports. The fund owned 8,006 shares of the company’s stock after selling 24,219 shares during the quarter. Advisory Services Network LLC’s holdings in GFL Environmental were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GFL. FMR LLC boosted its position in GFL Environmental by 10.0% during the fourth quarter. FMR LLC now owns 27,664,678 shares of the company’s stock worth $1,233,223,000 after purchasing an additional 2,506,021 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of GFL Environmental by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 8,697,180 shares of the company’s stock worth $387,705,000 after buying an additional 217,096 shares in the last quarter. Norges Bank acquired a new stake in GFL Environmental in the 4th quarter valued at about $126,420,000. American Century Companies Inc. increased its holdings in GFL Environmental by 40.4% during the 4th quarter. American Century Companies Inc. now owns 2,412,639 shares of the company’s stock valued at $107,459,000 after acquiring an additional 693,884 shares in the last quarter. Finally, Jennison Associates LLC raised its position in GFL Environmental by 7.0% during the fourth quarter. Jennison Associates LLC now owns 1,544,690 shares of the company’s stock worth $68,800,000 after acquiring an additional 101,695 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Raymond James set a $56.00 price objective on shares of GFL Environmental and gave the stock an “outperform” rating in a research note on Wednesday. Stifel Nicolaus raised GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Citigroup decreased their price objective on GFL Environmental from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Truist Financial boosted their target price on shares of GFL Environmental from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, April 2nd. Finally, National Bankshares reiterated an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.00.

GFL Environmental Trading Down 0.1 %

NYSE GFL opened at $48.49 on Friday. The company has a 50-day moving average of $46.72 and a 200-day moving average of $44.69. 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 12 month low of $30.57 and a 12 month high of $49.45. The company has a market cap of $19.07 billion, a P/E ratio of -36.46 and a beta of 1.09.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.98 billion. As a group, equities analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current 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%.

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.