54,288 Shares in GFL Environmental Inc. (NYSE:GFL) Purchased by NRI Wealth Management LC

NRI Wealth Management LC purchased a new stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 54,288 shares of the company's stock, valued at approximately $2,623,000. GFL Environmental comprises 1.9% of NRI Wealth Management LC's portfolio, making the stock its 12th biggest position.

A number of other hedge funds have also bought and sold shares of GFL. Norges Bank bought a new position in shares of GFL Environmental during the 4th quarter worth $126,420,000. Capital Research Global Investors lifted its holdings in GFL Environmental by 11.4% during the fourth 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 last quarter. FMR LLC boosted its position in GFL Environmental by 10.0% during the fourth quarter. FMR LLC now owns 27,664,678 shares of the company's stock worth $1,233,223,000 after purchasing an additional 2,506,021 shares during the period. Wellington Management Group LLP purchased a new position in shares of GFL Environmental in the fourth quarter worth about $93,343,000. Finally, Cohen & Steers Inc. purchased a new position in shares of GFL Environmental in the fourth quarter worth about $51,505,000. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Price Performance

Shares of GFL Environmental stock traded up $0.92 on Thursday, hitting $50.61. 1,318,230 shares of the company traded hands, compared to its average volume of 1,445,356. GFL Environmental Inc. has a 12-month low of $37.00 and a 12-month high of $52.00. The firm's 50-day simple moving average is $49.51 and its 200 day simple moving average is $46.87. The company has a market cap of $18.56 billion, a P/E ratio of 90.35 and a beta of 1.04. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.89.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.10). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.52 billion. GFL Environmental had a return on equity of 3.93% and a net margin of 36.01%. The firm's quarterly revenue was down 13.4% compared to the same quarter last year. Analysts expect that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The company 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 annualized dividend and a yield of 0.12%. This is a positive change from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's dividend payout ratio is currently 1.23%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of GFL Environmental from $53.00 to $56.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Citigroup lifted their price target on GFL Environmental from $53.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. started coverage on GFL Environmental in a report on Friday, May 23rd. They set a "neutral" rating and a $54.00 price objective on the stock. Scotiabank reaffirmed an "outperform" rating on shares of GFL Environmental in a report on Monday, May 5th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $57.00 price target (up from $56.00) on shares of GFL Environmental in a report on Friday, May 2nd. Two 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. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price 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.