Wealthquest Corp Buys New Shares in GFL Environmental Inc. (NYSE:GFL)

Wealthquest Corp bought a new stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,242 shares of the company's stock, valued at approximately $253,000.

A number of other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in GFL Environmental by 124.9% in the 4th quarter. Blue Trust Inc. now owns 551 shares of the company's stock valued at $25,000 after acquiring an additional 306 shares during the last quarter. Truist Financial Corp increased its holdings in GFL Environmental by 16.8% in the 4th quarter. Truist Financial Corp now owns 35,475 shares of the company's stock valued at $1,580,000 after acquiring an additional 5,090 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in GFL Environmental by 17.3% in the 4th quarter. First Horizon Advisors Inc. now owns 5,371 shares of the company's stock valued at $239,000 after acquiring an additional 792 shares during the last quarter. TCW Group Inc. increased its holdings in GFL Environmental by 14.6% in the 4th quarter. TCW Group Inc. now owns 24,746 shares of the company's stock valued at $1,102,000 after acquiring an additional 3,148 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in GFL Environmental by 13.8% in the 4th quarter. Bank of New York Mellon Corp now owns 187,325 shares of the company's stock valued at $8,343,000 after acquiring an additional 22,699 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company's stock.

GFL Environmental Price Performance

Shares of GFL opened at $50.06 on Wednesday. The company has a market cap of $18.36 billion, a price-to-earnings ratio of 10.26 and a beta of 1.04. GFL Environmental Inc. has a twelve month low of $37.00 and a twelve month high of $52.00. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average of $49.49 and a two-hundred day moving average of $46.85.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results 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). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.52 billion. GFL Environmental had a net margin of 36.01% and a return on equity of 3.93%. The business's revenue for the quarter was down 13.4% compared to the same quarter last year. As a group, analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GFL. Raymond James Financial reiterated 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. Citigroup lifted their price target on shares of GFL Environmental from $53.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Stifel Nicolaus upgraded shares of GFL Environmental from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. initiated coverage on shares of GFL Environmental in a report on Friday, May 23rd. They issued a "neutral" rating and a $54.00 target price on the stock. Finally, Royal Bank Of Canada boosted their target price 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. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $54.50.

GFL Environmental 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.

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