PNC Financial Services Group Inc. Grows Stake in GFL Environmental Inc. (NYSE:GFL)

PNC Financial Services Group Inc. boosted its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 22.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,838 shares of the company’s stock after buying an additional 1,831 shares during the period. PNC Financial Services Group Inc.’s holdings in GFL Environmental were worth $475,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Millstone Evans Group LLC increased its stake in GFL Environmental by 147.8% in the 1st quarter. Millstone Evans Group LLC now owns 560 shares of the company’s stock worth $27,000 after acquiring an additional 334 shares during the last quarter. Bessemer Group Inc. purchased a new stake in GFL Environmental in the first quarter valued at approximately $28,000. LRI Investments LLC bought a new stake in GFL Environmental during the first quarter valued at approximately $34,000. Natixis bought a new stake in GFL Environmental during the fourth quarter valued at approximately $49,000. Finally, Harbor Investment Advisory LLC purchased a new position in GFL Environmental in the 1st quarter worth approximately $53,000. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Up 0.0%

Shares of NYSE:GFL opened at $50.48 on Thursday. The stock has a market capitalization of $18.51 billion, a P/E ratio of 7.95 and a beta of 1.00. The stock’s 50-day moving average price is $49.12 and its 200-day moving average price is $47.99. 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 Inc. has a 12-month low of $38.78 and a 12-month high of $52.00.

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

GFL Environmental Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Truist Financial raised their price objective on shares of GFL Environmental from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Seaport Res Ptn upgraded GFL Environmental to a “strong-buy” rating in a research report on Tuesday, May 6th. Citigroup lifted their price target on GFL Environmental from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Royal Bank Of Canada increased their price objective on GFL Environmental from $56.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. began coverage on GFL Environmental in a report on Friday, May 23rd. They set a “neutral” rating and a $54.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, GFL Environmental currently has a consensus rating of “Buy” and an average price target of $57.86.

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.