Axxcess Wealth Management LLC Trims Stake in GFL Environmental Inc. $GFL

Axxcess Wealth Management LLC lessened its holdings in GFL Environmental Inc. (NYSE:GFL) by 52.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,239 shares of the company’s stock after selling 21,219 shares during the period. Axxcess Wealth Management LLC’s holdings in GFL Environmental were worth $912,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GFL. Generate Investment Management Ltd purchased a new position in shares of GFL Environmental in the 3rd quarter worth about $7,891,000. Munro Partners purchased a new stake in GFL Environmental in the second quarter worth approximately $12,926,000. JPMorgan Chase & Co. grew its position in GFL Environmental by 11.8% during the second quarter. JPMorgan Chase & Co. now owns 994,849 shares of the company’s stock valued at $50,200,000 after acquiring an additional 105,186 shares during the last quarter. S&CO Inc. raised its stake in shares of GFL Environmental by 86.6% during the second quarter. S&CO Inc. now owns 114,260 shares of the company’s stock worth $5,765,000 after acquiring an additional 53,030 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of GFL Environmental during the second quarter worth approximately $457,000. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Down 1.9%

Shares of NYSE:GFL opened at $42.64 on Friday. The stock’s 50-day moving average is $43.10 and its 200 day moving average is $45.36. The company has a market cap of $15.31 billion, a PE ratio of 6.27, a P/E/G ratio of 3.30 and a beta of 0.88. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.58 and a quick ratio of 0.69. GFL Environmental Inc. has a 1 year low of $40.83 and a 1 year high of $52.00.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.12. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.67 billion. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.58) EPS. Sell-side analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Tuesday, January 13th were issued a $0.0154 dividend. The ex-dividend date was Tuesday, January 13th. This represents a $0.06 annualized dividend and a yield of 0.1%. GFL Environmental’s dividend payout ratio is 0.88%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GFL shares. UBS Group increased their target price on shares of GFL Environmental from $58.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 10th. The Goldman Sachs Group started coverage on GFL Environmental in a research note on Monday, November 24th. They set a “neutral” rating and a $50.00 price objective on the stock. Scotiabank dropped their target price on GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a report on Thursday, February 12th. Royal Bank Of Canada raised their price target on GFL Environmental from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Barclays boosted their price objective on GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, GFL Environmental currently has a consensus rating of “Moderate Buy” and an average target price of $56.67.

GFL Environmental Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.