Wells Fargo & Company MN Reduces Holdings in GFL Environmental Inc. (NYSE:GFL)

Wells Fargo & Company MN cut its stake in GFL Environmental Inc. (NYSE:GFL) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,209 shares of the company’s stock after selling 921 shares during the period. Wells Fargo & Company MN’s holdings in GFL Environmental were worth $5,579,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of 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 during the period. Berbice Capital Management LLC purchased a new stake in GFL Environmental during the 4th quarter valued at about $27,000. SRH Advisors LLC acquired a new position in shares of GFL Environmental in the fourth quarter valued at about $89,000. Steward Partners Investment Advisory LLC raised its stake in shares of GFL Environmental by 350.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company’s stock worth $107,000 after purchasing an additional 1,867 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of GFL Environmental by 6,717.9% during the fourth quarter. Venturi Wealth Management LLC now owns 2,659 shares of the company’s stock worth $118,000 after purchasing an additional 2,620 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GFL shares. UBS Group raised their price target on shares of GFL Environmental from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. Scotiabank upped their price target on shares of GFL Environmental from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Tuesday, April 8th. Citigroup reduced their price objective on GFL Environmental from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. National Bankshares reaffirmed an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 price target on shares of GFL Environmental in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

GFL Environmental Stock Performance

GFL opened at $48.49 on Friday. The firm has a market capitalization of $19.07 billion, a PE ratio of -36.46 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. GFL Environmental Inc. has a twelve month low of $30.57 and a twelve month high of $49.45. The firm’s 50-day moving average price is $46.76 and its 200 day moving average price is $44.79.

GFL Environmental (NYSE:GFL) last announced 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. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.98 billion. As a group, sell-side analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th will be issued a $0.0154 dividend. This represents a $0.06 annualized dividend and a yield of 0.13%. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s payout ratio is presently -3.87%.

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.