Van ECK Associates Corp Acquires 775 Shares of GFL Environmental Inc. (NYSE:GFL)

Van ECK Associates Corp grew its holdings in GFL Environmental Inc. (NYSE:GFL) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,648 shares of the company’s stock after acquiring an additional 775 shares during the period. Van ECK Associates Corp’s holdings in GFL Environmental were worth $3,094,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its holdings in GFL Environmental by 55.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 12,543,970 shares of the company’s stock worth $398,396,000 after purchasing an additional 4,490,164 shares during the period. Nordea Investment Management AB raised its stake in shares of GFL Environmental by 16.6% in the fourth quarter. Nordea Investment Management AB now owns 7,384,983 shares of the company’s stock worth $256,259,000 after buying an additional 1,053,530 shares during the period. Vanguard Group Inc. lifted its position in shares of GFL Environmental by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 7,154,314 shares of the company’s stock valued at $227,221,000 after buying an additional 140,719 shares in the last quarter. Fred Alger Management LLC grew its stake in shares of GFL Environmental by 6.2% during the 3rd quarter. Fred Alger Management LLC now owns 6,050,953 shares of the company’s stock valued at $192,178,000 after acquiring an additional 355,191 shares during the period. Finally, Royal Bank of Canada increased its holdings in GFL Environmental by 4.5% in the 3rd quarter. Royal Bank of Canada now owns 5,498,322 shares of the company’s stock worth $174,628,000 after acquiring an additional 235,405 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Analyst Ratings Changes

GFL has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of GFL Environmental from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Jefferies Financial Group increased their price target on GFL Environmental from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. UBS Group assumed coverage on GFL Environmental in a research report on Wednesday, January 31st. They issued a “buy” rating and a $44.00 price objective on the stock. Bank of America cut GFL Environmental from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a research report on Friday, January 19th. Finally, BMO Capital Markets boosted their price target on GFL Environmental from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, GFL Environmental presently has a consensus rating of “Moderate Buy” and an average price target of $43.08.

GFL Environmental Stock Performance

NYSE GFL opened at $32.86 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.84 and a quick ratio of 0.84. GFL Environmental Inc. has a 1-year low of $26.87 and a 1-year high of $39.06. The business has a 50 day simple moving average of $34.12 and a two-hundred day simple moving average of $32.77. The stock has a market capitalization of $12.20 billion, a PE ratio of 51.22 and a beta of 1.15.

GFL Environmental (NYSE:GFL) last posted its earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). GFL Environmental had a net margin of 1.25% and a return on equity of 4.51%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. On average, research analysts predict that GFL Environmental Inc. will post 0.7 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a $0.014 dividend. The ex-dividend date of this dividend was Friday, April 12th. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.17%.

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.