Hsbc Holdings PLC Sells 12,230 Shares of GFL Environmental Inc. (NYSE:GFL)

Hsbc Holdings PLC lessened its holdings in GFL Environmental Inc. (NYSE:GFL) by 32.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,924 shares of the company’s stock after selling 12,230 shares during the quarter. Hsbc Holdings PLC’s holdings in GFL Environmental were worth $860,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its holdings in GFL Environmental by 3.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,022,382 shares of the company’s stock valued at $449,402,000 after buying an additional 478,412 shares during the last quarter. Nordea Investment Management AB increased its position in GFL Environmental by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 7,384,983 shares of the company’s stock valued at $256,259,000 after purchasing an additional 1,053,530 shares during the period. Vanguard Group Inc. increased its position in GFL Environmental by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 7,154,314 shares of the company’s stock valued at $227,221,000 after purchasing an additional 140,719 shares during the period. Fred Alger Management LLC increased its position in GFL Environmental by 6.2% during the 3rd quarter. Fred Alger Management LLC now owns 6,050,953 shares of the company’s stock valued at $192,178,000 after purchasing an additional 355,191 shares during the period. Finally, Royal Bank of Canada increased its position in GFL Environmental by 4.5% during the 3rd quarter. Royal Bank of Canada now owns 5,498,322 shares of the company’s stock valued at $174,628,000 after purchasing an additional 235,405 shares during the period. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Up 5.0 %

Shares of GFL traded up $1.58 on Thursday, reaching $33.44. The company’s stock had a trading volume of 2,852,229 shares, compared to its average volume of 1,152,063. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.25. GFL Environmental Inc. has a twelve month low of $26.87 and a twelve month high of $39.06. The stock has a market capitalization of $12.41 billion, a PE ratio of -334.40 and a beta of 1.15. The firm has a fifty day moving average of $34.26 and a 200-day moving average of $32.71.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). GFL Environmental had a return on equity of 4.96% and a net margin of 0.64%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. Equities analysts predict that GFL Environmental Inc. will post 0.8 EPS for the current year.

GFL Environmental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were given a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.17%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. The ex-dividend date was Friday, April 12th. GFL Environmental’s dividend payout ratio is presently -60.00%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GFL. Royal Bank of Canada began coverage on shares of GFL Environmental in a research report on Monday, April 8th. They set an “outperform” rating and a $46.00 target price for the company. Jefferies Financial Group lifted their price objective on shares of GFL Environmental from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, March 18th. UBS Group initiated coverage on shares of GFL Environmental in a research note on Wednesday, January 31st. They set a “buy” rating and a $44.00 target price on the stock. TheStreet upgraded shares of GFL Environmental from a “d+” rating to a “c” rating in a report on Tuesday, February 20th. Finally, Bank of America lowered shares of GFL Environmental from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a report on Friday, January 19th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, GFL Environmental currently has an average rating of “Moderate Buy” and an average target price of $42.83.

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.