Price T Rowe Associates Inc. MD Makes New $5.84 Million Investment in GFL Environmental Inc. (NYSE:GFL)

Price T Rowe Associates Inc. MD bought a new position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 131,100 shares of the company's stock, valued at approximately $5,840,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of GFL Environmental by 124.9% during the fourth quarter. Blue Trust Inc. now owns 551 shares of the company's stock worth $25,000 after purchasing an additional 306 shares during the period. Berbice Capital Management LLC acquired a new stake in GFL Environmental during the 4th quarter worth approximately $27,000. Natixis bought a new position in GFL Environmental in the fourth quarter valued at approximately $49,000. SRH Advisors LLC acquired a new position in shares of GFL Environmental in the fourth quarter valued at approximately $89,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of 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 acquiring an additional 1,867 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on GFL. Royal Bank of Canada increased their target price on GFL Environmental from $53.00 to $56.00 and gave the stock an "outperform" rating in a report on Monday. Stifel Nicolaus upgraded GFL Environmental from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Scotiabank reaffirmed an "outperform" rating on shares of GFL Environmental in a research report on Monday. Truist Financial raised their target price on shares of GFL Environmental from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday, April 2nd. Finally, UBS Group upped their price target 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 and eight have assigned a buy rating to the company. According to MarketBeat, GFL Environmental currently has an average rating of "Moderate Buy" and a consensus target price of $54.14.

GFL Environmental Price Performance

Shares of NYSE GFL traded up $0.18 during midday trading on Wednesday, reaching $51.21. The company's stock had a trading volume of 1,329,486 shares, compared to its average volume of 1,474,722. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market cap of $20.15 billion, a P/E ratio of -38.50 and a beta of 1.08. The business's 50 day moving average price is $47.64 and its two-hundred day moving average price is $45.51. GFL Environmental Inc. has a fifty-two week low of $30.57 and a fifty-two week high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.10). GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.52 billion. GFL Environmental's quarterly revenue was down 13.4% on a year-over-year basis. On average, analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th were issued 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 dividend payout ratio is 1.23%.

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.