Brown Brothers Harriman & Co. Buys 786,044 Shares of GFL Environmental Inc. (NYSE:GFL)

Brown Brothers Harriman & Co. grew its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 162.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,271,161 shares of the company’s stock after purchasing an additional 786,044 shares during the quarter. Brown Brothers Harriman & Co. owned approximately 0.34% of GFL Environmental worth $50,694,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GFL. Cape Investment Advisory Inc. grew its holdings in GFL Environmental by 325.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock worth $44,000 after acquiring an additional 975 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of GFL Environmental by 51.1% during the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after purchasing an additional 459 shares during the period. Spartan Fund Management Inc. bought a new stake in shares of GFL Environmental in the third quarter worth about $60,000. Tobam increased its holdings in GFL Environmental by 139.5% during the 2nd quarter. Tobam now owns 1,751 shares of the company’s stock valued at $68,000 after purchasing an additional 1,020 shares during the period. Finally, Avior Wealth Management LLC bought a new position in GFL Environmental during the 3rd quarter valued at approximately $82,000. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Up 0.2 %

Shares of GFL opened at $45.88 on Monday. GFL Environmental Inc. has a 52 week low of $26.87 and a 52 week high of $46.48. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The business’s 50 day moving average price is $41.63 and its 200-day moving average price is $39.29.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. On average, equities analysts predict that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a $0.014 dividend. 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 currently -4.51%.

Wall Street Analysts Forecast Growth

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

GFL Environmental 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.