Royal Bank of Canada Has $336.24 Million Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Royal Bank of Canada trimmed its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,549,263 shares of the company's stock after selling 698,312 shares during the quarter. Royal Bank of Canada owned about 1.92% of GFL Environmental worth $336,244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of GFL Environmental by 10.0% in the 4th quarter. FMR LLC now owns 27,664,678 shares of the company's stock valued at $1,233,223,000 after buying an additional 2,506,021 shares during the period. Capital Research Global Investors increased its stake in GFL Environmental by 11.4% in the 4th 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 in the last quarter. Fred Alger Management LLC increased its stake in GFL Environmental by 1.9% in the 4th quarter. Fred Alger Management LLC now owns 10,411,148 shares of the company's stock valued at $463,713,000 after purchasing an additional 190,018 shares in the last quarter. Vanguard Group Inc. increased its stake in GFL Environmental by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 8,697,180 shares of the company's stock valued at $387,705,000 after purchasing an additional 217,096 shares in the last quarter. Finally, Soros Fund Management LLC increased its stake in GFL Environmental by 1.5% in the 4th quarter. Soros Fund Management LLC now owns 3,203,904 shares of the company's stock valued at $142,702,000 after purchasing an additional 47,577 shares in the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GFL shares. Stifel Nicolaus raised GFL Environmental from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. National Bankshares reissued an "outperform" rating on shares of GFL Environmental in a research report on Tuesday, March 11th. Raymond James reaffirmed an "outperform" rating and issued a $57.00 price objective (up previously from $56.00) on shares of GFL Environmental in a research report on Friday, May 2nd. Citigroup lifted their price objective on GFL Environmental from $53.00 to $56.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Finally, Royal Bank of Canada lifted their price objective on GFL Environmental from $53.00 to $56.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $54.57.

GFL Environmental Stock Up 0.5%

Shares of GFL traded up $0.26 during mid-day trading on Tuesday, reaching $50.05. The company's stock had a trading volume of 2,189,639 shares, compared to its average volume of 1,511,332. The business has a fifty day moving average of $48.17 and a 200 day moving average of $46.04. The company has a market cap of $19.69 billion, a price-to-earnings ratio of -37.63 and a beta of 1.08. GFL Environmental Inc. has a 1 year low of $30.57 and a 1 year high of $52.00. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

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 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 company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.52 billion. The firm's revenue was down 13.4% compared to the same quarter last year. As a group, analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th were issued a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. This is a boost from GFL Environmental's previous quarterly dividend of $0.01. 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.