Hsbc Holdings PLC Purchases 82,764 Shares of GFL Environmental Inc. $GFL

Hsbc Holdings PLC raised its position in GFL Environmental Inc. (NYSE:GFL) by 208.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,460 shares of the company’s stock after acquiring an additional 82,764 shares during the quarter. Hsbc Holdings PLC’s holdings in GFL Environmental were worth $6,162,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. lifted its stake in GFL Environmental by 87.2% in the first quarter. American Century Companies Inc. now owns 4,515,302 shares of the company’s stock worth $218,134,000 after acquiring an additional 2,102,663 shares during the period. 1832 Asset Management L.P. purchased a new stake in shares of GFL Environmental in the 1st quarter worth about $27,150,000. Ghisallo Capital Management LLC bought a new stake in shares of GFL Environmental during the 1st quarter valued at about $26,570,000. Canada Pension Plan Investment Board increased its position in shares of GFL Environmental by 101.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,089,215 shares of the company’s stock valued at $52,621,000 after buying an additional 549,309 shares during the period. Finally, Bornite Capital Management LP bought a new position in GFL Environmental in the first quarter worth about $26,073,000. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

GFL Environmental Stock Performance

GFL stock opened at $44.66 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.69 and a quick ratio of 0.69. GFL Environmental Inc. has a 1 year low of $41.29 and a 1 year high of $52.00. The company has a market cap of $16.23 billion, a P/E ratio of 7.00 and a beta of 0.89. The stock’s fifty day moving average price is $45.14 and its 200-day moving average price is $47.62.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). GFL Environmental had a return on equity of 3.06% and a net margin of 50.99%.The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the business posted $0.33 EPS. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th were given a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Wednesday, October 15th. GFL Environmental’s dividend payout ratio (DPR) is presently 0.94%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays initiated coverage on GFL Environmental in a report on Friday, September 19th. They set an “overweight” rating and a $62.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of GFL Environmental in a research report on Monday, November 24th. They issued a “neutral” rating and a $50.00 target price on the stock. Stifel Nicolaus began coverage on shares of GFL Environmental in a research report on Tuesday, September 30th. They set a “buy” rating for the company. JPMorgan Chase & Co. cut their price objective on shares of GFL Environmental from $54.00 to $46.75 and set a “neutral” rating on the stock in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of GFL Environmental in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $57.08.

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.