Russell Investments Group Ltd. boosted its stake in shares of GFL Environmental Inc. (NYSE:GFL – Get Rating) by 29.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,613 shares of the company’s stock after buying an additional 15,721 shares during the period. Russell Investments Group Ltd.’s holdings in GFL Environmental were worth $2,034,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC purchased a new stake in GFL Environmental in the third quarter valued at $43,000. Assetmark Inc. raised its position in GFL Environmental by 129.6% in the third quarter. Assetmark Inc. now owns 2,089 shares of the company’s stock valued at $53,000 after purchasing an additional 1,179 shares during the period. BNP Paribas Arbitrage SNC purchased a new stake in GFL Environmental in the third quarter valued at $70,000. Cutler Group LLC CA purchased a new stake in GFL Environmental in the fourth quarter valued at $98,000. Finally, Allianz Asset Management GmbH purchased a new stake in GFL Environmental in the first quarter valued at $119,000. Institutional investors and hedge funds own 63.25% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on GFL. Royal Bank of Canada lifted their target price on GFL Environmental from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, May 1st. Raymond James boosted their price objective on GFL Environmental from $38.00 to $40.00 in a report on Tuesday, May 2nd. TheStreet upgraded GFL Environmental from a “d” rating to a “c-” rating in a report on Thursday, March 2nd. BMO Capital Markets boosted their price objective on GFL Environmental from C$32.00 to C$35.00 and gave the company an “outperform” rating in a report on Thursday, February 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on GFL Environmental from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, February 23rd. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $41.85.
GFL Environmental Price Performance
GFL Environmental (NYSE:GFL – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.09). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. GFL Environmental had a positive return on equity of 2.93% and a negative net margin of 7.66%. Analysts forecast that GFL Environmental Inc. will post 0.76 EPS for the current fiscal year.
GFL Environmental Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Monday, April 17th were issued a $0.013 dividend. The ex-dividend date of this dividend was Friday, April 14th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.14%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio is presently -3.82%.
GFL Environmental Profile
GFL Environmental Inc operates as a diversified environmental services company in Canada and the United States. The company offers non-hazardous solid waste management, infrastructure and soil remediation, and liquid waste management services. Its solid waste management business line includes the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste for municipal, residential, and commercial and industrial customers.
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