Phraction Management LLC Reduces Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Phraction Management LLC lessened its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 43.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,075 shares of the company's stock after selling 7,755 shares during the period. Phraction Management LLC's holdings in GFL Environmental were worth $487,000 at the end of the most recent quarter.

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

GFL Environmental Stock Down 0.3%

Shares of NYSE GFL traded down $0.14 during midday trading on Friday, reaching $48.23. 1,076,642 shares of the company's stock traded hands, compared to its average volume of 1,459,835. The company has a market cap of $17.69 billion, a price-to-earnings ratio of 9.88 and a beta of 1.03. The stock's 50 day simple moving average is $49.68 and its 200-day simple moving average is $47.03. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.89. GFL Environmental Inc. has a one year low of $37.00 and a one year high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its 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). GFL Environmental had a net margin of 36.01% and a return on equity of 3.93%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.52 billion. The firm's revenue was down 13.4% on a year-over-year basis. On average, analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 14th will be issued a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. GFL Environmental's dividend payout ratio is currently 1.23%.

Wall Street Analyst Weigh In

GFL has been the subject of a number of recent analyst reports. Raymond James Financial reissued an "outperform" rating and set a $57.00 target price (up from $56.00) on shares of GFL Environmental in a research note on Friday, May 2nd. UBS Group boosted their price objective on shares of GFL Environmental from $50.00 to $57.00 and gave the company a "buy" rating in a research report on Friday, April 4th. National Bank Financial upgraded shares of GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. JPMorgan Chase & Co. initiated coverage on shares of GFL Environmental in a research note on Friday, May 23rd. They set a "neutral" rating and a $54.00 price target for the company. Finally, Truist Financial boosted their price target on GFL Environmental from $54.00 to $58.00 and gave the company a "buy" rating in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, GFL Environmental currently has an average rating of "Buy" and a consensus target price 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.