Brown Brothers Harriman & Co. Purchases 91,421 Shares of GFL Environmental Inc. (NYSE:GFL)

Brown Brothers Harriman & Co. lifted its position in shares of GFL Environmental Inc. (NYSE:GFL) by 23.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 485,117 shares of the company’s stock after purchasing an additional 91,421 shares during the quarter. Brown Brothers Harriman & Co. owned about 0.13% of GFL Environmental worth $18,886,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GFL. WINTON GROUP Ltd purchased a new position in GFL Environmental during the second quarter valued at $1,409,000. Envestnet Asset Management Inc. grew its stake in shares of GFL Environmental by 21.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 126,693 shares of the company’s stock worth $4,932,000 after buying an additional 22,481 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in GFL Environmental by 56.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,784 shares of the company’s stock valued at $809,000 after buying an additional 7,491 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in GFL Environmental by 3.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company’s stock valued at $838,000 after buying an additional 664 shares during the last quarter. Finally, Andra AP fonden purchased a new position in GFL Environmental during the second quarter valued at $90,000. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Stock Down 0.6 %

Shares of GFL stock opened at $40.03 on Monday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.89 and a quick ratio of 0.89. GFL Environmental Inc. has a one year low of $26.87 and a one year high of $43.79. The company’s fifty day moving average price is $40.19 and its 200-day moving average price is $36.61. The company has a market capitalization of $15.07 billion, a price-to-earnings ratio of 38.86 and a beta of 1.16.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. Sell-side analysts expect that GFL Environmental Inc. will post 0.62 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were issued a dividend of $0.014 per share. The ex-dividend date was Monday, July 15th. This represents a $0.06 annualized dividend and a dividend yield of 0.14%. GFL Environmental’s dividend payout ratio (DPR) is 4.85%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GFL. Raymond James increased their price objective on shares of GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. BMO Capital Markets downgraded GFL Environmental from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $43.00 to $42.00 in a report on Tuesday, July 9th. Finally, Royal Bank of Canada boosted their price target on GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.64.

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.