Franklin Resources Inc. cut its holdings in GFL Environmental Inc. (NYSE:GFL – Free Report) by 5.8% in the third quarter, HoldingsChannel reports. The firm owned 828,638 shares of the company’s stock after selling 50,816 shares during the quarter. Franklin Resources Inc.’s holdings in GFL Environmental were worth $33,762,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of GFL. Fred Alger Management LLC raised its position in GFL Environmental by 64.3% during the third quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after purchasing an additional 3,999,363 shares during the period. Soros Fund Management LLC increased its position in shares of GFL Environmental by 487.0% during the 3rd 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 during the last quarter. FMR LLC raised its holdings in GFL Environmental by 7.4% during the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company’s stock valued at $1,003,591,000 after buying an additional 1,728,598 shares during the period. Millennium Management LLC lifted its position in GFL Environmental by 40.0% in the second quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after buying an additional 1,614,182 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in GFL Environmental by 162.0% during the third quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company’s stock worth $50,694,000 after buying an additional 786,044 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. UBS Group increased their target price on shares of 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 target price on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Scotiabank raised 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. Finally, Truist Financial boosted 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. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, GFL Environmental presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.
GFL Environmental Trading Up 2.0 %
GFL opened at $45.43 on Thursday. 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 stock’s fifty day moving average is $43.86 and its two-hundred day moving average is $41.05. The company has a market capitalization of $17.87 billion, a P/E ratio of -34.16 and a beta of 1.16. GFL Environmental Inc. has a 52 week low of $30.57 and a 52 week high of $48.87.
GFL Environmental (NYSE:GFL – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. Analysts forecast that GFL Environmental Inc. will post 0.59 earnings per share for the current year.
GFL Environmental Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a $0.014 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. GFL Environmental’s dividend payout ratio is currently -3.76%.
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.
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