LPL Financial LLC Boosts Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

LPL Financial LLC grew its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 14.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,485 shares of the company’s stock after buying an additional 18,232 shares during the quarter. LPL Financial LLC’s holdings in GFL Environmental were worth $7,077,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GFL. Millstone Evans Group LLC increased its stake in shares of GFL Environmental by 147.8% in the first quarter. Millstone Evans Group LLC now owns 560 shares of the company’s stock worth $27,000 after buying an additional 334 shares during the period. Bessemer Group Inc. purchased a new position in shares of GFL Environmental in the first quarter valued at about $28,000. LRI Investments LLC purchased a new position in shares of GFL Environmental in the first quarter valued at about $34,000. Natixis bought a new position in shares of GFL Environmental during the fourth quarter valued at about $49,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of GFL Environmental during the first quarter worth about $53,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Wall Street Analyst Weigh In

GFL has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their price target on GFL Environmental from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Citigroup increased their price objective on GFL Environmental from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 4th. National Bank Financial raised shares of GFL Environmental to a “strong-buy” rating in a research note on Monday, May 26th. JPMorgan Chase & Co. started coverage on shares of GFL Environmental in a report on Friday, May 23rd. They issued a “neutral” rating and a $54.00 price objective on the stock. Finally, Seaport Res Ptn upgraded shares of GFL Environmental to a “strong-buy” rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $57.86.

GFL Environmental Trading Down 0.8%

Shares of NYSE:GFL opened at $50.51 on Monday. The stock has a 50 day moving average of $49.06 and a 200 day moving average of $47.89. The company has a market cap of $18.52 billion, a PE ratio of 7.95 and a beta of 1.00. GFL Environmental Inc. has a 12-month low of $38.29 and a 12-month high of $52.00. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.68 billion. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. As a group, equities research analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 14th were given a $0.0154 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental’s payout ratio is 0.94%.

GFL Environmental Company 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.