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

First Horizon Advisors Inc. lifted its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 17.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,371 shares of the company’s stock after purchasing an additional 792 shares during the period. First Horizon Advisors Inc.’s holdings in GFL Environmental were worth $239,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GFL. 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 in the 4th quarter valued at about $27,000. Continuum Advisory LLC boosted its stake in shares of GFL Environmental by 60.6% during the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after purchasing an additional 254 shares during the last quarter. SRH Advisors LLC purchased a new stake in shares of GFL Environmental during the fourth quarter worth about $89,000. Finally, Avior Wealth Management LLC acquired a new position in shares of GFL Environmental in the third quarter valued at approximately $82,000. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Stock Down 4.1 %

GFL opened at $44.10 on Wednesday. The company has a market cap of $17.35 billion, a PE ratio of -33.16 and a beta of 1.17. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. GFL Environmental Inc. has a 1 year low of $30.57 and a 1 year high of $48.87. The firm has a 50 day moving average price of $44.43 and a 200 day moving average price of $43.12.

GFL Environmental (NYSE:GFL) last issued its earnings results on Monday, February 24th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.98 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. Sell-side analysts expect that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 13th were paid a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Monday, January 13th. GFL Environmental’s dividend payout ratio is presently -3.76%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Truist Financial raised their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Stifel Nicolaus raised GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup began coverage on GFL Environmental in a research report on Monday, January 27th. They set a “buy” rating and a $53.00 target price on the stock. Raymond James lifted their price target on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, UBS Group increased their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.56.

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.