Massachusetts Financial Services Co. MA Increases Holdings in GFL Environmental Inc. (NYSE:GFL)

Massachusetts Financial Services Co. MA raised its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,817,626 shares of the company’s stock after purchasing an additional 257,486 shares during the period. Massachusetts Financial Services Co. MA owned 3.14% of GFL Environmental worth $471,287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GFL. Cape Investment Advisory Inc. raised its holdings in shares of GFL Environmental by 325.0% during the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock valued at $44,000 after acquiring an additional 975 shares in the last quarter. Fifth Third Bancorp raised its holdings in GFL Environmental by 51.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after purchasing an additional 459 shares in the last quarter. Spartan Fund Management Inc. purchased a new stake in shares of GFL Environmental in the 3rd quarter worth about $60,000. Tobam lifted its position in shares of GFL Environmental by 139.5% in the 2nd quarter. Tobam now owns 1,751 shares of the company’s stock worth $68,000 after purchasing an additional 1,020 shares during the period. Finally, Avior Wealth Management LLC bought a new stake in shares of GFL Environmental during the 3rd quarter valued at about $82,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Up 1.1 %

GFL Environmental stock opened at $45.77 on Friday. GFL Environmental Inc. has a 12 month low of $26.87 and a 12 month high of $46.48. The stock has a fifty day simple moving average of $41.52 and a two-hundred day simple moving average of $39.11. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The firm has a market cap of $17.23 billion, a price-to-earnings ratio of -34.41 and a beta of 1.15.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. Equities analysts predict that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $0.014 per share. The ex-dividend date was Wednesday, October 16th. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. GFL Environmental’s payout ratio is -4.51%.

Wall Street Analyst Weigh In

GFL has been the subject of a number of research reports. Scotiabank increased their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Truist Financial raised their target price on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada upped their price target on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Raymond James raised their price objective on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, UBS Group increased their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $45.80.

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.