Daiwa Securities Group Inc. Has $1.17 Million Stake in GFL Environmental Inc. (NYSE:GFL)

Daiwa Securities Group Inc. decreased its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 40.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,305 shares of the company’s stock after selling 19,781 shares during the quarter. Daiwa Securities Group Inc.’s holdings in GFL Environmental were worth $1,169,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its position in shares of GFL Environmental by 2.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company’s stock worth $471,287,000 after buying an additional 257,486 shares during the period. Fred Alger Management LLC grew its position in shares of GFL Environmental by 7.1% during the 2nd quarter. Fred Alger Management LLC now owns 6,221,767 shares of the company’s stock worth $242,213,000 after buying an additional 411,128 shares during the period. Millennium Management LLC grew its position in shares of GFL Environmental by 40.0% during the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after buying an additional 1,614,182 shares during the period. Maverick Capital Ltd. lifted its holdings in shares of GFL Environmental by 22.1% in the 2nd quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock worth $127,911,000 after purchasing an additional 595,259 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of GFL Environmental by 26.1% in the 2nd quarter. Marshall Wace LLP now owns 2,476,752 shares of the company’s stock worth $96,420,000 after purchasing an additional 512,735 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

Analyst Ratings Changes

GFL has been the topic of a number of recent research reports. Scotiabank increased their target price on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. UBS Group increased their target price on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Raymond James increased their target price on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada increased their target price on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Truist Financial increased their target price on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, GFL Environmental has an average rating of “Moderate Buy” and a consensus price target of $45.80.

GFL Environmental Trading Up 1.8 %

Shares of GFL Environmental stock opened at $47.08 on Friday. GFL Environmental Inc. has a 1 year low of $27.64 and a 1 year high of $47.16. The firm has a market cap of $18.52 billion, a PE ratio of -35.40 and a beta of 1.15. The stock has a fifty day moving average price of $42.34 and a 200-day moving average price of $39.69. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Equities research analysts anticipate that GFL Environmental Inc. will post 0.59 EPS for the current year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s dividend payout ratio is presently -4.51%.

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.