Oppenheimer Asset Management Inc. Lowers Holdings in GFL Environmental Inc. $GFL

Oppenheimer Asset Management Inc. trimmed its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 11.3% during the 2nd quarter, Holdings Channel reports. The fund owned 33,840 shares of the company’s stock after selling 4,323 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in GFL Environmental were worth $1,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GFL. Cambridge Investment Research Advisors Inc. purchased a new stake in GFL Environmental in the 1st quarter worth approximately $385,000. Bessemer Group Inc. purchased a new position in shares of GFL Environmental during the 1st quarter valued at approximately $28,000. OneDigital Investment Advisors LLC lifted its stake in shares of GFL Environmental by 2.6% in the 1st quarter. OneDigital Investment Advisors LLC now owns 17,264 shares of the company’s stock valued at $834,000 after purchasing an additional 436 shares during the period. Bank of New York Mellon Corp boosted its holdings in GFL Environmental by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 192,306 shares of the company’s stock worth $9,290,000 after buying an additional 4,981 shares in the last quarter. Finally, Axxcess Wealth Management LLC acquired a new stake in GFL Environmental during the first quarter valued at $1,608,000. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GFL shares. Scotiabank set a $58.00 price objective on shares of GFL Environmental in a report on Friday, October 10th. Royal Bank Of Canada raised their target price on GFL Environmental from $56.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. William Blair began coverage on GFL Environmental in a research note on Thursday, September 25th. They issued an “outperform” rating for the company. UBS Group reduced their price target on GFL Environmental from $63.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Finally, Barclays started coverage on GFL Environmental in a report on Friday, September 19th. They issued an “overweight” rating and a $62.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $58.63.

GFL Environmental Stock Down 0.3%

Shares of NYSE GFL opened at $43.76 on Friday. The firm has a market cap of $15.90 billion, a price-to-earnings ratio of 6.89 and a beta of 1.17. The company’s 50-day simple moving average is $46.84 and its 200-day simple moving average is $48.42. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.89. GFL Environmental Inc. has a 52-week low of $41.18 and a 52-week high of $52.00.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company posted $0.29 EPS. GFL Environmental’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.0154 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. GFL Environmental’s dividend payout ratio is presently 0.94%.

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.