Geode Capital Management LLC Has $56.50 Million Holdings in GFL Environmental Inc. (NYSE:GFL)

Geode Capital Management LLC increased its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 38.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,274,496 shares of the company’s stock after acquiring an additional 355,790 shares during the period. Geode Capital Management LLC’s holdings in GFL Environmental were worth $56,496,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Generate Investment Management Ltd acquired a new position in shares of GFL Environmental during the 4th quarter worth about $15,041,000. Tobam acquired a new position in GFL Environmental during the fourth quarter valued at approximately $1,846,000. Raymond James Financial Inc. bought a new position in GFL Environmental in the fourth quarter valued at approximately $18,836,000. Bleakley Financial Group LLC increased its position in shares of GFL Environmental by 9.9% during the 4th quarter. Bleakley Financial Group LLC now owns 7,954 shares of the company’s stock worth $354,000 after purchasing an additional 718 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of GFL Environmental by 20.1% during the 3rd quarter. Toronto Dominion Bank now owns 104,578 shares of the company’s stock worth $4,171,000 after purchasing an additional 17,493 shares in the last quarter. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Price Performance

GFL Environmental stock opened at $48.29 on Monday. The company has a market capitalization of $18.99 billion, a price-to-earnings ratio of -36.30 and a beta of 1.09. The stock’s 50 day moving average is $46.49 and its 200-day moving average is $44.51. 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 Inc. has a 12 month low of $30.57 and a 12 month high of $49.35.

GFL Environmental (NYSE:GFL) last posted its 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 positive return on equity of 3.50% and a negative net margin of 7.54%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.98 billion. Equities research analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be issued a dividend of $0.0154 per share. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental’s dividend payout ratio (DPR) is currently -3.87%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GFL. UBS Group boosted their target price on shares of GFL Environmental from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, April 4th. Scotiabank boosted their price objective on shares of GFL Environmental from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 8th. Citigroup reduced their price target on GFL Environmental from $56.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Stifel Nicolaus upgraded GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, Truist Financial lifted their target price on GFL Environmental from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.25.

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.