Geode Capital Management LLC Boosts Position in GFL Environmental Inc. (NYSE:GFL)

Geode Capital Management LLC grew its position in GFL Environmental Inc. (NYSE:GFL) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 918,706 shares of the company’s stock after buying an additional 65,449 shares during the quarter. Geode Capital Management LLC owned 0.24% of GFL Environmental worth $36,296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Continuum Advisory LLC lifted its stake in GFL Environmental by 60.6% in the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock valued at $29,000 after buying an additional 254 shares in the last quarter. Spartan Fund Management Inc. purchased a new stake in shares of GFL Environmental in the third quarter valued at $60,000. Tobam lifted 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 in the last quarter. Avior Wealth Management LLC purchased a new stake in GFL Environmental during the 3rd quarter worth about $82,000. Finally, Signaturefd LLC increased its position in GFL Environmental by 23.5% during the 2nd quarter. Signaturefd LLC now owns 2,149 shares of the company’s stock worth $84,000 after purchasing an additional 409 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Trading Down 0.0 %

Shares of GFL opened at $44.71 on Thursday. The firm has a market capitalization of $17.59 billion, a P/E ratio of -33.62 and a beta of 1.16. 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 stock’s fifty day simple moving average is $44.28 and its 200 day simple moving average is $41.33. GFL Environmental Inc. has a twelve month low of $30.57 and a twelve month high of $48.87.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. On average, equities research analysts forecast that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Wednesday, October 16th. GFL Environmental’s dividend payout ratio is presently -3.76%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GFL shares. Truist Financial lifted their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Scotiabank boosted their price target on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. UBS Group increased their price target on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Raymond James lifted 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. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.