Hsbc Holdings PLC Acquires 13,575 Shares of GFL Environmental Inc. (NYSE:GFL)

Hsbc Holdings PLC boosted its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 31.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,407 shares of the company’s stock after purchasing an additional 13,575 shares during the quarter. Hsbc Holdings PLC’s holdings in GFL Environmental were worth $2,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GFL. Tidal Investments LLC raised its stake in GFL Environmental by 6.3% during the 3rd quarter. Tidal Investments LLC now owns 20,853 shares of the company’s stock valued at $832,000 after purchasing an additional 1,238 shares during the period. BluePath Capital Management LLC bought a new stake in GFL Environmental in the 4th quarter worth approximately $248,000. Avanza Fonder AB bought a new stake in GFL Environmental in the 4th quarter worth approximately $1,063,000. Goldstein Advisors LLC increased its stake in GFL Environmental by 20.8% in the 4th quarter. Goldstein Advisors LLC now owns 7,418 shares of the company’s stock worth $330,000 after acquiring an additional 1,278 shares during the last quarter. Finally, Berbice Capital Management LLC bought a new stake in GFL Environmental in the 4th quarter worth approximately $27,000. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Performance

NYSE GFL opened at $49.84 on Thursday. The business’s 50 day moving average price is $47.14 and its 200-day moving average price is $45.21. GFL Environmental Inc. has a fifty-two week low of $30.57 and a fifty-two week high of $50.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market cap of $19.61 billion, a P/E ratio of -37.47 and a beta of 1.09.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Sell-side analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 14th were issued a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s payout ratio is presently -3.87%.

Analysts Set New Price Targets

A number of analysts have issued reports on GFL shares. Scotiabank lifted their price objective on GFL Environmental from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 8th. Stifel Nicolaus raised GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. UBS Group lifted their price objective on GFL Environmental from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday, April 4th. Raymond James set a $56.00 price objective on GFL Environmental and gave the stock an “outperform” rating in a research note on Wednesday, April 16th. Finally, Truist Financial boosted their target price on GFL Environmental from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, GFL Environmental presently has an average rating of “Moderate Buy” and an average target price of $52.00.

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.