Fmr LLC Has $1 Billion Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Fmr LLC lifted its position in GFL Environmental Inc. (NYSE:GFL) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,158,657 shares of the company’s stock after buying an additional 1,728,598 shares during the quarter. Fmr LLC owned about 6.68% of GFL Environmental worth $1,003,591,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Cape Investment Advisory Inc. boosted its holdings in 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 during the period. Fifth Third Bancorp increased its position 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 buying an additional 459 shares during the period. Spartan Fund Management Inc. acquired a new position in shares of GFL Environmental during the third quarter worth approximately $60,000. Tobam boosted its position in shares of GFL Environmental by 139.5% in the second quarter. Tobam now owns 1,751 shares of the company’s stock valued at $68,000 after acquiring an additional 1,020 shares during the period. Finally, Avior Wealth Management LLC acquired a new stake in shares of GFL Environmental in the third quarter worth $82,000. 64.70% of the stock is owned by institutional investors.

GFL Environmental Stock Down 0.8 %

Shares of NYSE GFL opened at $46.25 on Thursday. The stock has a market cap of $18.19 billion, a PE ratio of -34.77 and a beta of 1.15. 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 business has a fifty day moving average of $42.05 and a two-hundred day moving average of $39.54. GFL Environmental Inc. has a 52-week low of $26.87 and a 52-week high of $47.11.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. As a group, equities research analysts expect that GFL Environmental Inc. will post 0.59 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a $0.014 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 annualized dividend and a yield of 0.12%. GFL Environmental’s payout ratio is -3.76%.

Wall Street Analysts Forecast Growth

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

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.