Brown Brothers Harriman & Co. Boosts Position in GFL Environmental Inc. (NYSE:GFL)

Brown Brothers Harriman & Co. raised its position in shares of GFL Environmental Inc. (NYSE:GFL) by 162.0% in the third quarter, HoldingsChannel reports. The firm owned 1,271,161 shares of the company’s stock after buying an additional 786,044 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in GFL Environmental were worth $50,694,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC raised 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 acquiring an additional 1,614,182 shares during the period. Progeny 3 Inc. raised its holdings in GFL Environmental by 516.3% in the 2nd quarter. Progeny 3 Inc. now owns 893,300 shares of the company’s stock worth $34,776,000 after purchasing an additional 748,350 shares during the period. Vanguard Group Inc. lifted its position in GFL Environmental by 9.4% during the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock valued at $273,053,000 after purchasing an additional 683,120 shares in the last quarter. Maverick Capital Ltd. lifted its position in GFL Environmental by 22.1% during the second quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock valued at $127,911,000 after purchasing an additional 595,259 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in GFL Environmental by 26.1% during the second quarter. Marshall Wace LLP now owns 2,476,752 shares of the company’s stock valued at $96,420,000 after purchasing an additional 512,735 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Performance

GFL opened at $45.88 on Monday. 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 50 day moving average price is $41.63 and its 200-day moving average price is $39.29. GFL Environmental Inc. has a one year low of $26.87 and a one year high of $46.48.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. On average, sell-side analysts forecast that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on GFL shares. Scotiabank raised their price objective 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. Raymond James raised their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. UBS Group upped their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Truist Financial raised their price objective 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 boosted their price objective on GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, GFL Environmental has a consensus rating of “Moderate Buy” and an average price target of $45.80.

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.