Harbor Capital Advisors Inc. Cuts Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Harbor Capital Advisors Inc. decreased its holdings in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 15.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,754 shares of the company's stock after selling 7,592 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in GFL Environmental were worth $2,017,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its stake in GFL Environmental by 124.9% during the fourth quarter. Blue Trust Inc. now owns 551 shares of the company's stock worth $25,000 after acquiring an additional 306 shares in the last quarter. Natixis acquired a new stake in shares of GFL Environmental during the 4th quarter worth approximately $49,000. Harbor Investment Advisory LLC acquired a new stake in shares of GFL Environmental during the 1st quarter worth approximately $53,000. Versant Capital Management Inc grew its position in shares of GFL Environmental by 3,470.3% during the 1st quarter. Versant Capital Management Inc now owns 1,321 shares of the company's stock worth $64,000 after buying an additional 1,284 shares during the period. Finally, SRH Advisors LLC acquired a new stake in GFL Environmental in the 4th quarter valued at $89,000. Institutional investors and hedge funds own 64.70% of the company's stock.

GFL Environmental Price Performance

GFL stock traded down $0.54 during mid-day trading on Friday, reaching $50.22. 580,453 shares of the company traded hands, compared to its average volume of 1,443,871. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $18.42 billion, a P/E ratio of -37.76 and a beta of 1.04. GFL Environmental Inc. has a 52-week low of $37.00 and a 52-week high of $52.00. The company has a fifty day moving average price of $49.18 and a 200-day moving average price of $46.69.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.10). The company had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.52 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The firm's revenue was down 13.4% on a year-over-year basis. As a group, analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders 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 yield of 0.12%. This is a positive change from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's payout ratio is presently 1.23%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. National Bank Financial raised shares of GFL Environmental to a "strong-buy" rating in a report on Monday, May 26th. Royal Bank of Canada lifted their target price on GFL Environmental from $53.00 to $56.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Scotiabank reiterated an "outperform" rating on shares of GFL Environmental in a research note on Monday, May 5th. JPMorgan Chase & Co. assumed coverage on GFL Environmental in a research note on Friday, May 23rd. They set a "neutral" rating and a $54.00 target price on the stock. Finally, National Bankshares restated an "outperform" rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, GFL Environmental presently has an average rating of "Buy" and a consensus price target of $54.50.

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.