Bank of America Corp DE Sells 92,147 Shares of GFL Environmental Inc. (NYSE:GFL)

Bank of America Corp DE cut its position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 873,772 shares of the company's stock after selling 92,147 shares during the quarter. Bank of America Corp DE owned 0.22% of GFL Environmental worth $38,918,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of GFL. Blue Trust Inc. lifted 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. Berbice Capital Management LLC bought a new stake in shares of GFL Environmental in the 4th quarter worth approximately $27,000. Natixis acquired a new stake in GFL Environmental during the fourth quarter valued at approximately $49,000. SRH Advisors LLC bought a new stake in GFL Environmental during the fourth quarter worth approximately $89,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in GFL Environmental by 350.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company's stock worth $107,000 after buying an additional 1,867 shares in the last quarter. Institutional investors own 64.70% of the company's stock.

GFL Environmental Stock Down 0.8%

NYSE GFL traded down $0.40 during trading on Wednesday, reaching $49.56. 111,128 shares of the company's stock were exchanged, compared to its average volume of 1,505,858. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a fifty-two week low of $30.57 and a fifty-two week high of $52.00. The company's fifty day simple moving average is $48.25 and its 200-day simple moving average is $46.07. The firm has a market capitalization of $19.50 billion, a PE ratio of -37.35 and a beta of 1.08.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly 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). The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.52 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. GFL Environmental's revenue for the quarter was down 13.4% compared to the same quarter last year. Sell-side analysts predict that GFL Environmental Inc. will post 0.58 EPS 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 given a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a yield of 0.12%. This is an increase from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's dividend payout ratio is presently 1.23%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GFL. Stifel Nicolaus upgraded GFL Environmental from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Citigroup boosted their target price on GFL Environmental from $53.00 to $56.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Scotiabank reaffirmed an "outperform" rating on shares of GFL Environmental in a report on Monday, May 5th. Royal Bank of Canada lifted their price target on GFL Environmental from $53.00 to $56.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, UBS Group upped their price objective on shares of GFL Environmental from $50.00 to $57.00 and gave the company a "buy" rating in a research note on Friday, April 4th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $54.57.

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.