Merit Financial Group LLC Has $2.01 Million Position in GFL Environmental Inc. (NYSE:GFL)

Merit Financial Group LLC grew its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 63.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 41,600 shares of the company's stock after acquiring an additional 16,171 shares during the period. Merit Financial Group LLC's holdings in GFL Environmental were worth $2,010,000 at the end of the most recent reporting period.

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

GFL Environmental Trading Up 2.0%

NYSE GFL traded up $1.01 on Monday, reaching $50.70. The company had a trading volume of 1,796,298 shares, compared to its average volume of 1,448,456. The stock's 50 day moving average is $48.70 and its 200-day moving average is $46.56. The stock has a market cap of $18.59 billion, a price-to-earnings ratio of -38.12 and a beta of 1.04. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a 52 week low of $36.26 and a 52 week high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its earnings results 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 negative net margin of 7.54% and a positive return on equity of 3.50%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.52 billion. GFL Environmental's revenue for the quarter was down 13.4% compared to the same quarter last year. Equities analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th were paid a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. This is a boost from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's payout ratio is presently 1.23%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GFL. Citigroup lifted their price objective on GFL Environmental from $53.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Scotiabank restated an "outperform" rating on shares of GFL Environmental in a research report on Monday, May 5th. JPMorgan Chase & Co. began coverage on GFL Environmental in a research report on Friday, May 23rd. They set a "neutral" rating and a $54.00 target price for the company. National Bank Financial upgraded GFL Environmental to a "strong-buy" rating in a research report on Monday, May 26th. Finally, Raymond James restated an "outperform" rating and set a $57.00 target price (up previously from $56.00) on shares of GFL Environmental in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $54.50.

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.