JPMorgan Chase & Co. Has $63.71 Million Stock Holdings in GFL Environmental Inc. $GFL

JPMorgan Chase & Co. raised its position in GFL Environmental Inc. (NYSE:GFL) by 35.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,344,569 shares of the company’s stock after buying an additional 349,720 shares during the quarter. JPMorgan Chase & Co.’s holdings in GFL Environmental were worth $63,706,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GFL. EverSource Wealth Advisors LLC raised its holdings in shares of GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after purchasing an additional 219 shares during the last quarter. Advisory Services Network LLC boosted its holdings in GFL Environmental by 4.1% during the third quarter. Advisory Services Network LLC now owns 6,537 shares of the company’s stock worth $310,000 after purchasing an additional 256 shares during the last quarter. AGP Franklin LLC boosted its holdings in GFL Environmental by 3.7% during the second quarter. AGP Franklin LLC now owns 7,427 shares of the company’s stock worth $375,000 after purchasing an additional 262 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of GFL Environmental by 21.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock worth $75,000 after buying an additional 289 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of GFL Environmental by 45.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after buying an additional 304 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on GFL shares. Scotiabank lowered their target price on GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 12th. Weiss Ratings lowered GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. The Goldman Sachs Group began coverage on shares of GFL Environmental in a report on Monday, November 24th. They set a “neutral” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Finally, Wolfe Research initiated coverage on shares of GFL Environmental in a research note on Friday, March 13th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and an average price target of $56.67.

GFL Environmental Stock Up 0.4%

NYSE GFL opened at $42.54 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.05. The company has a market cap of $15.23 billion, a price-to-earnings ratio of 6.26, a PEG ratio of 3.30 and a beta of 0.86. The company has a 50 day moving average of $43.25 and a 200-day moving average of $44.49. GFL Environmental Inc. has a 1-year low of $40.83 and a 1-year high of $52.00.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.67 billion. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.GFL Environmental’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.58) earnings per share. On average, equities research analysts expect that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Tuesday, January 13th were issued a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, January 13th. GFL Environmental’s dividend payout ratio (DPR) is currently 0.88%.

About GFL Environmental

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.