Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in GFL Environmental Inc. (NYSE:GFL)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in GFL Environmental Inc. (NYSE:GFL) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,293 shares of the company’s stock after acquiring an additional 848 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in GFL Environmental were worth $1,769,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Truist Financial Corp boosted its stake in GFL Environmental by 1.8% in the second quarter. Truist Financial Corp now owns 15,463 shares of the company’s stock valued at $602,000 after acquiring an additional 268 shares during the last quarter. Signaturefd LLC boosted its stake in GFL Environmental by 23.5% in the second quarter. Signaturefd LLC now owns 2,149 shares of the company’s stock valued at $84,000 after acquiring an additional 409 shares during the last quarter. Fifth Third Bancorp boosted its stake in GFL Environmental by 51.1% in the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock valued at $53,000 after acquiring an additional 459 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in GFL Environmental by 3.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company’s stock valued at $838,000 after acquiring an additional 664 shares during the last quarter. Finally, Capital Insight Partners LLC boosted its stake in GFL Environmental by 2.4% in the second quarter. Capital Insight Partners LLC now owns 35,650 shares of the company’s stock valued at $1,388,000 after acquiring an additional 820 shares during the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GFL shares. Truist Financial boosted their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Raymond James boosted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. UBS Group boosted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Scotiabank boosted their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.80.

GFL Environmental Stock Performance

GFL Environmental stock opened at $46.85 on Thursday. The firm’s 50 day simple moving average is $42.75 and its 200 day simple moving average is $40.06. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $18.43 billion, a PE ratio of -35.23 and a beta of 1.16. GFL Environmental Inc. has a 1-year low of $28.21 and a 1-year high of $47.43.

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

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date was Wednesday, October 16th. GFL Environmental’s payout ratio is -3.76%.

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.