Bank of New York Mellon Corp Purchases 22,699 Shares of GFL Environmental Inc. (NYSE:GFL)

Bank of New York Mellon Corp lifted its position in GFL Environmental Inc. (NYSE:GFL) by 13.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 187,325 shares of the company’s stock after purchasing an additional 22,699 shares during the quarter. Bank of New York Mellon Corp’s holdings in GFL Environmental were worth $8,343,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GFL. Fred Alger Management LLC grew its holdings in shares of GFL Environmental by 64.3% in the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock worth $407,619,000 after purchasing an additional 3,999,363 shares during the last quarter. Soros Fund Management LLC grew its holdings in shares of GFL Environmental by 487.0% in the 3rd quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock worth $125,874,000 after purchasing an additional 2,618,589 shares during the last quarter. FMR LLC grew its holdings in shares of GFL Environmental by 7.4% in the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after purchasing an additional 1,728,598 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of GFL Environmental by 162.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company’s stock worth $50,694,000 after purchasing an additional 786,044 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its position in GFL Environmental by 11.3% during the 3rd quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock worth $145,889,000 after buying an additional 372,534 shares in the last quarter. Institutional investors own 64.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Scotiabank upped their price target on shares of GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, March 5th. Citigroup assumed coverage on shares of GFL Environmental in a research report on Monday, January 27th. They set a “buy” rating and a $53.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $53.00 price target on shares of GFL Environmental in a research report on Monday, February 24th. National Bankshares reiterated an “outperform” rating on shares of GFL Environmental in a research report on Tuesday. Finally, Stifel Nicolaus upgraded shares of GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.78.

GFL Environmental Stock Performance

GFL Environmental stock opened at $46.24 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a 1 year low of $30.57 and a 1 year high of $48.87. The company has a market cap of $18.19 billion, a PE ratio of -34.77 and a beta of 1.16. The company’s 50-day moving average is $44.75 and its two-hundred day moving average is $43.49.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.98 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. Equities analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 13th were given a $0.014 dividend. The ex-dividend date was Monday, January 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. GFL Environmental’s dividend payout ratio is -3.23%.

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.