GFL Environmental Inc. (NYSE:GFL) Position Trimmed by Bank of America Corp DE

Bank of America Corp DE lessened its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 9.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 873,772 shares of the company’s stock after selling 92,147 shares during the quarter. Bank of America Corp DE’s holdings in GFL Environmental were worth $38,918,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in GFL Environmental by 124.9% during the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after acquiring an additional 306 shares in the last quarter. Berbice Capital Management LLC purchased a new position in GFL Environmental during the 4th quarter valued at about $27,000. Natixis purchased a new position in GFL Environmental during the 4th quarter valued at about $49,000. SRH Advisors LLC purchased a new position in GFL Environmental during the 4th quarter valued at about $89,000. Finally, Steward Partners Investment Advisory LLC grew its stake in GFL Environmental by 350.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company’s stock valued at $107,000 after acquiring an additional 1,867 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Up 2.6%

GFL opened at $49.04 on Friday. The business has a 50 day moving average price of $48.03 and a 200 day moving average price of $45.87. GFL Environmental Inc. has a twelve month low of $30.57 and a twelve month high of $52.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $19.29 billion, a P/E ratio of -36.87 and a beta of 1.08.

GFL Environmental (NYSE:GFL) last posted its earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.10). GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.52 billion. The business’s quarterly revenue was down 13.4% on a year-over-year basis. Research analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 14th were issued a $0.0154 dividend. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 0.13%. GFL Environmental’s payout ratio is 1.23%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GFL. Scotiabank reissued an “outperform” rating on shares of GFL Environmental in a research note on Monday, May 5th. Royal Bank of Canada boosted their price target on GFL Environmental from $53.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Stifel Nicolaus raised GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Seaport Res Ptn raised GFL Environmental to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, Citigroup boosted their price target on GFL Environmental from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GFL Environmental has a consensus rating of “Buy” and a consensus target price of $54.57.

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.