Tobam lessened its holdings in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 88.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,976 shares of the company's stock after selling 36,472 shares during the quarter. Tobam's holdings in GFL Environmental were worth $240,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Net Worth Advisory Group bought a new stake in shares of GFL Environmental in the 1st quarter worth about $638,000. Fifth Third Bancorp grew its stake in GFL Environmental by 81.9% in the first quarter. Fifth Third Bancorp now owns 1,643 shares of the company's stock worth $79,000 after purchasing an additional 740 shares in the last quarter. NewGen Asset Management Ltd acquired a new position in GFL Environmental in the first quarter worth about $3,986,000. Barton Investment Management raised its stake in GFL Environmental by 0.8% during the first quarter. Barton Investment Management now owns 417,878 shares of the company's stock valued at $20,188,000 after buying an additional 3,280 shares in the last quarter. Finally, Merit Financial Group LLC lifted its holdings in GFL Environmental by 63.6% during the 1st quarter. Merit Financial Group LLC now owns 41,600 shares of the company's stock worth $2,010,000 after buying an additional 16,171 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company's stock.
GFL Environmental Stock Performance
Shares of GFL traded down $0.54 during midday trading on Friday, hitting $50.22. 580,453 shares of the stock traded hands, compared to its average volume of 1,443,871. The business's 50 day moving average price is $49.18 and its two-hundred day moving average price is $46.69. The firm has a market capitalization of $18.42 billion, a PE ratio of -37.76 and a beta of 1.04. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. GFL Environmental Inc. has a 1-year low of $37.00 and a 1-year high of $52.00.
GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings data 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 negative net margin of 7.54% and a positive return on equity of 3.50%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.52 billion. The company's revenue was down 13.4% on a year-over-year basis. Equities research analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.
GFL Environmental Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th were issued a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. This is a boost from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's payout ratio is 1.23%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on GFL shares. National Bank Financial upgraded GFL Environmental to a "strong-buy" rating in a report on Monday, May 26th. JPMorgan Chase & Co. started coverage on shares of GFL Environmental in a report on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price objective for the company. Citigroup increased their target price on shares of GFL Environmental from $53.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Raymond James restated an "outperform" rating and issued a $57.00 price target (up from $56.00) on shares of GFL Environmental in a research report on Friday, May 2nd. Finally, Scotiabank reaffirmed an "outperform" rating on shares of GFL Environmental in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $54.50.
Check Out Our Latest Research Report on GFL
GFL Environmental Profile
(
Free Report)
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.
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