First Horizon Advisors Inc. Raises Position in GFL Environmental Inc. (NYSE:GFL)

First Horizon Advisors Inc. increased its holdings in GFL Environmental Inc. (NYSE:GFL) by 80.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,579 shares of the company’s stock after purchasing an additional 2,044 shares during the period. First Horizon Advisors Inc.’s holdings in GFL Environmental were worth $183,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Truist Financial Corp increased its stake in shares of GFL Environmental by 1.8% during the 2nd quarter. Truist Financial Corp now owns 15,463 shares of the company’s stock valued at $602,000 after acquiring an additional 268 shares during the last quarter. Signaturefd LLC increased its position in GFL Environmental by 23.5% during the second quarter. Signaturefd LLC now owns 2,149 shares of the company’s stock worth $84,000 after purchasing an additional 409 shares during the last quarter. Fifth Third Bancorp raised its stake 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 purchasing an additional 459 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of GFL Environmental by 3.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company’s stock valued at $838,000 after purchasing an additional 664 shares during the last quarter. Finally, Capital Insight Partners LLC grew its stake in shares of GFL Environmental by 2.4% during the 2nd quarter. Capital Insight Partners LLC now owns 35,650 shares of the company’s stock valued at $1,388,000 after buying an additional 820 shares during the period. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

GFL Environmental Price Performance

GFL opened at $45.88 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The company has a 50-day moving average of $41.63 and a 200-day moving average of $39.24. GFL Environmental Inc. has a 1-year low of $26.87 and a 1-year high of $46.48. The company has a market capitalization of $18.05 billion, a P/E ratio of -34.50 and a beta of 1.15.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (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 for the quarter, compared to the consensus estimate of $1.49 billion. Equities analysts expect that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is -4.51%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Raymond James increased their target price on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. UBS Group lifted 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. Scotiabank increased their target price on shares of GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. Truist Financial lifted their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada increased their price objective on shares of GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, GFL Environmental presently has a consensus rating of “Moderate Buy” and an average 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.