Raymond James & Associates Trims Stake in GFL Environmental Inc. (NYSE:GFL)

Raymond James & Associates cut its stake in GFL Environmental Inc. (NYSE:GFLGet Rating) by 45.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,078 shares of the company’s stock after selling 101,000 shares during the quarter. Raymond James & Associates’ holdings in GFL Environmental were worth $3,011,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Forsta AP Fonden purchased a new position in shares of GFL Environmental in the 2nd quarter valued at $118,000. Allianz Asset Management GmbH purchased a new position in shares of GFL Environmental in the 1st quarter valued at $119,000. Citigroup Inc. increased its holdings in shares of GFL Environmental by 718.0% in the 1st quarter. Citigroup Inc. now owns 3,918 shares of the company’s stock valued at $128,000 after acquiring an additional 3,439 shares during the period. UBS Group AG increased its holdings in shares of GFL Environmental by 9.7% in the 2nd quarter. UBS Group AG now owns 5,846 shares of the company’s stock valued at $151,000 after acquiring an additional 519 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of GFL Environmental by 8.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,554 shares of the company’s stock valued at $222,000 after acquiring an additional 636 shares during the period. 63.25% of the stock is currently owned by hedge funds and other institutional investors.

GFL Environmental Stock Performance

Shares of GFL opened at $31.23 on Friday. The stock has a 50-day moving average of $28.88 and a two-hundred day moving average of $27.70. GFL Environmental Inc. has a one year low of $23.10 and a one year high of $34.16. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market cap of $10.72 billion, a P/E ratio of -61.20 and a beta of 1.19.

GFL Environmental (NYSE:GFLGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. GFL Environmental had a positive return on equity of 3.52% and a negative net margin of 2.57%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.26 billion. As a group, research analysts predict that GFL Environmental Inc. will post 0.42 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Wednesday, January 18th will be given a dividend of $0.012 per share. The ex-dividend date of this dividend is Tuesday, January 17th. This represents a $0.05 dividend on an annualized basis and a yield of 0.15%. GFL Environmental’s dividend payout ratio is currently -9.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GFL. TD Securities lifted their price target on GFL Environmental from C$48.00 to C$51.00 in a report on Friday, November 4th. National Bank Financial dropped their target price on GFL Environmental from C$53.00 to C$47.00 in a research note on Thursday, October 20th. CIBC boosted their target price on GFL Environmental from C$46.00 to C$50.00 in a research note on Wednesday, December 14th. Raymond James dropped their target price on GFL Environmental from $37.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, November 7th. Finally, Jefferies Financial Group restated a “buy” rating and set a $41.00 target price on shares of GFL Environmental in a research note on Tuesday, October 25th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, GFL Environmental presently has a consensus rating of “Buy” and a consensus target price of $42.06.

GFL Environmental Company Profile

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GFL Environmental Inc operates as a diversified environmental services company in Canada and the United States. The company offers non-hazardous solid waste management, infrastructure and soil remediation, and liquid waste management services. Its solid waste management business line includes the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste for municipal, residential, and commercial and industrial customers.

Further Reading

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Institutional Ownership by Quarter for GFL Environmental (NYSE:GFL)

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