Deutsche Bank AG Reduces Position in GFL Environmental Inc. (NYSE:GFL)

Key Points

• Deutsche Bank AG has reduced its stake in GFL Environmental Inc. by 1.0%, owning approximately 3.82 million shares, currently valued at $184.6 million.
• GFL Environmental's quarterly earnings hit $0.19 per share, meeting analyst expectations, but revenue fell short at $1.23 billion compared to projections of $1.68 billion.
• Several analysts have upgraded their ratings on GFL shares, with target prices ranging from $56.00 to $60.00, indicating a positive outlook for the company's stock.

Deutsche Bank AG lessened its position in GFL Environmental Inc. (NYSE:GFL - Free Report) by 1.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,821,714 shares of the company's stock after selling 36,664 shares during the period. Deutsche Bank AG owned about 0.97% of GFL Environmental worth $184,627,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Bessemer Group Inc. acquired a new stake in GFL Environmental during the 1st quarter worth $28,000. Cambridge Investment Research Advisors Inc. bought a new position in GFL Environmental during the 1st quarter worth $385,000. Geode Capital Management LLC increased its position in GFL Environmental by 38.7% during the 4th quarter. Geode Capital Management LLC now owns 1,274,496 shares of the company's stock worth $56,496,000 after purchasing an additional 355,790 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of GFL Environmental by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 192,306 shares of the company's stock valued at $9,290,000 after purchasing an additional 4,981 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in GFL Environmental during the 4th quarter worth about $753,000. 64.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on GFL. Seaport Res Ptn upgraded shares of GFL Environmental to a "strong-buy" rating in a research report on Tuesday, May 6th. Scotiabank increased their price target on GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Friday, August 1st. Truist Financial boosted their price objective on GFL Environmental from $58.00 to $60.00 and gave the company a "buy" rating in a report on Friday, August 1st. Citigroup increased their target price on GFL Environmental from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, National Bank Financial upgraded shares of GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $57.86.

GFL Environmental Price Performance

NYSE GFL traded up $0.50 during trading hours on Monday, reaching $51.00. The company's stock had a trading volume of 1,174,666 shares, compared to its average volume of 1,671,711. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.89. The firm's 50-day moving average price is $49.06 and its 200-day moving average price is $47.89. GFL Environmental Inc. has a 1 year low of $38.78 and a 1 year high of $52.00. The company has a market capitalization of $18.70 billion, a price-to-earnings ratio of 8.03 and a beta of 1.00.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.68 billion. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The business's revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS. On average, equities research analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 14th were given a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental's dividend payout ratio is currently 0.94%.

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.