Axxcess Wealth Management LLC Purchases New Stake in GFL Environmental Inc. (NYSE:GFL)

Axxcess Wealth Management LLC acquired a new position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 33,277 shares of the company's stock, valued at approximately $1,608,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of GFL Environmental during the 4th quarter worth about $126,420,000. Capital Research Global Investors grew its position in shares of GFL Environmental by 11.4% in the 4th quarter. Capital Research Global Investors now owns 26,973,784 shares of the company's stock valued at $1,201,406,000 after purchasing an additional 2,751,618 shares during the period. FMR LLC grew its position in shares of GFL Environmental by 10.0% in the 4th quarter. FMR LLC now owns 27,664,678 shares of the company's stock valued at $1,233,223,000 after purchasing an additional 2,506,021 shares during the period. Wellington Management Group LLP acquired a new position in shares of GFL Environmental in the 4th quarter valued at approximately $93,343,000. Finally, Cohen & Steers Inc. acquired a new position in shares of GFL Environmental in the 4th quarter valued at approximately $51,505,000. 64.70% of the stock is owned by institutional investors.

GFL Environmental Stock Up 1.6%

Shares of GFL Environmental stock traded up $0.76 on Monday, reaching $48.10. 833,533 shares of the company were exchanged, compared to its average volume of 1,467,761. GFL Environmental Inc. has a one year low of $37.00 and a one year high of $52.00. The company has a market capitalization of $17.64 billion, a price-to-earnings ratio of 9.86 and a beta of 1.03. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average of $49.45 and a 200 day moving average of $47.18.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.10). GFL Environmental had a return on equity of 3.93% and a net margin of 36.01%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.52 billion. The company's quarterly revenue was down 13.4% on a year-over-year basis. On average, equities research analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 14th will be paid a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.13%. GFL Environmental's dividend payout ratio (DPR) is presently 1.23%.

Analyst Ratings Changes

Several equities analysts recently issued reports on GFL shares. JPMorgan Chase & Co. started coverage on GFL Environmental in a research report on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price objective for the company. Seaport Res Ptn raised GFL Environmental to a "strong-buy" rating in a research report on Tuesday, May 6th. National Bank Financial raised GFL Environmental to a "strong-buy" rating in a research report on Monday, May 26th. Scotiabank reaffirmed an "outperform" rating on shares of GFL Environmental in a research report on Monday, May 5th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $57.00 price target (up previously from $56.00) on shares of GFL Environmental in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $56.29.

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.