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

Grimes & Company Inc. bought a new stake in GFL Environmental Inc. (NYSE:GFL) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,009 shares of the company’s stock, valued at approximately $223,000.

A number of other institutional investors have also recently bought and sold shares of the business. Berbice Capital Management LLC acquired a new position in shares of GFL Environmental during the 4th quarter worth approximately $27,000. Goldstein Advisors LLC increased its holdings in shares of GFL Environmental by 20.8% in the fourth quarter. Goldstein Advisors LLC now owns 7,418 shares of the company’s stock valued at $330,000 after purchasing an additional 1,278 shares during the last quarter. Avanza Fonder AB bought a new position in shares of GFL Environmental in the fourth quarter valued at about $1,063,000. BluePath Capital Management LLC acquired a new stake in shares of GFL Environmental during the 4th quarter worth about $248,000. Finally, Tidal Investments LLC boosted its holdings in shares of GFL Environmental by 6.3% during the 3rd quarter. Tidal Investments LLC now owns 20,853 shares of the company’s stock worth $832,000 after buying an additional 1,238 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Stock Up 0.5 %

GFL stock opened at $42.25 on Monday. GFL Environmental Inc. has a 52 week low of $30.57 and a 52 week high of $48.87. The business has a 50-day simple moving average of $44.77 and a 200 day simple moving average of $42.13. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The company has a market cap of $16.62 billion, a PE ratio of -31.77 and a beta of 1.17.

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

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 13th will be paid 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 payout ratio is presently -4.51%.

Wall Street Analysts Forecast Growth

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

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.