Bank of Montreal Can Grows Position in GFL Environmental Inc. (NYSE:GFL)

Bank of Montreal Can grew its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,224,328 shares of the company’s stock after buying an additional 33,425 shares during the period. Bank of Montreal Can owned 0.31% of GFL Environmental worth $54,509,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. increased its position in GFL Environmental by 124.9% during the fourth quarter. Blue Trust Inc. now owns 551 shares of the company’s stock worth $25,000 after buying an additional 306 shares in the last quarter. Berbice Capital Management LLC purchased a new position in GFL Environmental during the fourth quarter worth $27,000. Continuum Advisory LLC increased its position in GFL Environmental by 60.6% during the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after buying an additional 254 shares in the last quarter. SRH Advisors LLC purchased a new position in GFL Environmental during the fourth quarter worth $89,000. Finally, Steward Partners Investment Advisory LLC increased its position in GFL Environmental by 350.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company’s stock worth $107,000 after buying an additional 1,867 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GFL shares. Stifel Nicolaus raised GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. UBS Group lifted their price objective on GFL Environmental from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, April 4th. National Bankshares reaffirmed an “outperform” rating on shares of GFL Environmental in a research report on Tuesday, March 11th. Truist Financial lifted their price objective on GFL Environmental from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $53.00 price objective on shares of GFL Environmental in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, GFL Environmental has an average rating of “Moderate Buy” and an average target price of $51.25.

GFL Environmental Price Performance

Shares of GFL Environmental stock opened at $47.73 on Thursday. GFL Environmental Inc. has a twelve month low of $30.57 and a twelve month high of $49.35. The stock has a market capitalization of $18.78 billion, a P/E ratio of -35.89 and a beta of 1.09. 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 business’s fifty day moving average price is $46.33 and its 200 day moving average price is $44.36.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.98 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. As a group, research analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s payout ratio is currently -3.87%.

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.