DekaBank Deutsche Girozentrale Raises Stock Position in GFL Environmental Inc. (NYSE:GFL)

DekaBank Deutsche Girozentrale raised its stake in GFL Environmental Inc. (NYSE:GFL) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,597 shares of the company’s stock after buying an additional 664 shares during the period. DekaBank Deutsche Girozentrale’s holdings in GFL Environmental were worth $838,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Tobam purchased a new position in shares of GFL Environmental during the 1st quarter worth approximately $25,000. Headlands Technologies LLC purchased a new position in shares of GFL Environmental during the 1st quarter worth approximately $39,000. Cape Investment Advisory Inc. increased its position in GFL Environmental by 325.0% during the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock worth $44,000 after buying an additional 975 shares in the last quarter. Fifth Third Bancorp increased its position in GFL Environmental by 51.1% during the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after buying an additional 459 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of GFL Environmental in the first quarter worth $69,000. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Price Performance

Shares of NYSE:GFL opened at $39.68 on Friday. The company has a market cap of $14.94 billion, a P/E ratio of 38.52 and a beta of 1.16. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.45. GFL Environmental Inc. has a 52 week low of $26.87 and a 52 week high of $43.79. The business has a fifty day simple moving average of $40.27 and a 200-day simple moving average of $36.70.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. Equities research analysts forecast that GFL Environmental Inc. will post 0.62 EPS for the current year.

GFL Environmental Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.