GFL Environmental Inc. (NYSE:GFL) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in GFL Environmental Inc. (NYSE:GFL) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,306 shares of the company’s stock after purchasing an additional 4,981 shares during the period. Bank of New York Mellon Corp’s holdings in GFL Environmental were worth $9,290,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GFL. OneDigital Investment Advisors LLC boosted its stake in shares of GFL Environmental by 2.6% during the 1st quarter. OneDigital Investment Advisors LLC now owns 17,264 shares of the company’s stock valued at $834,000 after buying an additional 436 shares during the last quarter. Acuitas Investments LLC acquired a new stake in shares of GFL Environmental during the 1st quarter valued at approximately $2,044,000. Colonial River Investments LLC acquired a new stake in shares of GFL Environmental during the 1st quarter valued at approximately $1,608,000. NRI Wealth Management LC acquired a new stake in shares of GFL Environmental during the 1st quarter valued at approximately $2,623,000. Finally, Bessemer Group Inc. acquired a new stake in shares of GFL Environmental during the 1st quarter valued at approximately $28,000. 64.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Scotiabank reaffirmed an “outperform” rating on shares of GFL Environmental in a report on Monday, May 5th. JPMorgan Chase & Co. assumed coverage on GFL Environmental in a report on Friday, May 23rd. They set a “neutral” rating and a $54.00 target price for the company. National Bank Financial raised GFL Environmental to a “strong-buy” rating in a report on Monday, May 26th. Citigroup upped their target price on GFL Environmental from $53.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Finally, Truist Financial increased their price objective on GFL Environmental from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, GFL Environmental has an average rating of “Buy” and a consensus target price of $56.29.

GFL Environmental Stock Down 0.8%

NYSE:GFL opened at $47.08 on Tuesday. GFL Environmental Inc. has a 1 year low of $37.00 and a 1 year high of $52.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.89. The stock has a market cap of $17.26 billion, a price-to-earnings ratio of 9.65 and a beta of 1.03. The stock has a 50-day moving average price of $49.13 and a two-hundred day moving average price of $47.29.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.10). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.52 billion. GFL Environmental had a return on equity of 3.93% and a net margin of 36.01%. The company’s revenue was down 13.4% compared to the same quarter last year. As a group, equities analysts expect that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 14th will be issued a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. GFL Environmental’s dividend payout ratio is presently 1.23%.

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.