JPMorgan Chase & Co. Has $32.57 Million Position in GFL Environmental Inc. (NYSE:GFL)

JPMorgan Chase & Co. cut its holdings in GFL Environmental Inc. (NYSE:GFL) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 816,597 shares of the company’s stock after selling 62,722 shares during the period. JPMorgan Chase & Co. owned approximately 0.21% of GFL Environmental worth $32,566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GFL. Natixis Advisors LLC increased its holdings in GFL Environmental by 11.4% in the second quarter. Natixis Advisors LLC now owns 53,318 shares of the company’s stock worth $2,075,000 after purchasing an additional 5,471 shares in the last quarter. National Bank of Canada FI lifted its position in shares of GFL Environmental by 1.6% during the 2nd quarter. National Bank of Canada FI now owns 183,004 shares of the company’s stock valued at $7,073,000 after acquiring an additional 2,887 shares during the period. Acadian Asset Management LLC acquired a new position in shares of GFL Environmental during the 2nd quarter valued at $201,000. Andra AP fonden bought a new position in GFL Environmental during the second quarter worth $90,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in GFL Environmental by 3.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company’s stock worth $838,000 after purchasing an additional 664 shares during the period. 64.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GFL has been the topic of a number of research analyst reports. UBS Group increased their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Scotiabank upped their price target on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Raymond James raised their price objective on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Truist Financial upped their target price on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.80.

GFL Environmental Stock Performance

Shares of GFL stock opened at $44.04 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $17.32 billion, a P/E ratio of -33.11 and a beta of 1.17. The firm has a 50-day moving average of $44.83 and a 200-day moving average of $41.73. GFL Environmental Inc. has a one year low of $30.57 and a one year high of $48.87.

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

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 13th will be issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 0.13%. The ex-dividend date is Monday, January 13th. GFL Environmental’s dividend payout ratio (DPR) is presently -3.76%.

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.