Grimes & Company Inc. Takes $223,000 Position in GFL Environmental Inc. (NYSE:GFL)

Grimes & Company Inc. acquired a new position in shares of GFL Environmental Inc. (NYSE:GFL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,009 shares of the company’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GFL. FMR LLC increased its holdings in shares of GFL Environmental by 7.4% during the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after buying an additional 1,728,598 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in GFL Environmental by 2.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company’s stock worth $471,287,000 after acquiring an additional 257,486 shares during the last quarter. Fred Alger Management LLC increased its holdings in 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 in the last quarter. Maverick Capital Ltd. raised its position in GFL Environmental by 11.3% in the third quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock valued at $145,889,000 after purchasing an additional 372,534 shares during the last quarter. Finally, Soros Fund Management LLC boosted its stake in shares of GFL Environmental by 487.0% during the third quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock valued at $125,874,000 after purchasing an additional 2,618,589 shares in the last quarter. Institutional investors own 64.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group upped their price objective on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Raymond James upped their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Scotiabank lifted their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. Finally, Truist Financial increased their price objective on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.00.

GFL Environmental Stock Performance

Shares of GFL Environmental stock opened at $42.25 on Monday. The business has a 50-day moving average price of $44.77 and a two-hundred day moving average price of $42.13. GFL Environmental Inc. has a 1-year low of $30.57 and a 1-year high of $48.87. 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 company has a market cap of $16.62 billion, a P/E ratio of -31.77 and a beta of 1.17.

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

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 13th will be paid a $0.014 dividend. The ex-dividend date is Monday, January 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental’s dividend payout ratio is currently -4.51%.

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.