Franklin Resources Inc. Trims Holdings in GFL Environmental Inc. (NYSE:GFL)

Franklin Resources Inc. lowered its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 46.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 441,329 shares of the company’s stock after selling 387,309 shares during the period. Franklin Resources Inc. owned approximately 0.11% of GFL Environmental worth $19,656,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GFL. Generate Investment Management Ltd purchased a new position in shares of GFL Environmental during the fourth quarter worth $15,041,000. Tobam acquired a new position in GFL Environmental during the 4th quarter worth about $1,846,000. Duff & Phelps Investment Management Co. lifted its stake in GFL Environmental by 14.6% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 310,918 shares of the company’s stock worth $12,399,000 after acquiring an additional 39,558 shares in the last quarter. National Bank of Canada FI grew its position in GFL Environmental by 16.9% in the 3rd quarter. National Bank of Canada FI now owns 214,007 shares of the company’s stock valued at $8,536,000 after acquiring an additional 31,003 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its stake in GFL Environmental by 9.9% during the fourth quarter. Bleakley Financial Group LLC now owns 7,954 shares of the company’s stock worth $354,000 after purchasing an additional 718 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Stock Down 7.0 %

Shares of NYSE GFL opened at $44.76 on Monday. The business has a 50-day moving average of $46.15 and a two-hundred day moving average of $44.24. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of -33.65 and a beta of 1.09. GFL Environmental Inc. has a 1 year low of $30.57 and a 1 year high of $49.35. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58.

GFL Environmental (NYSE:GFL) last posted its earnings results on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.98 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. On average, analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 14th will be paid a dividend of $0.0154 per share. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 0.14%. GFL Environmental’s dividend payout ratio (DPR) is currently -3.23%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. National Bankshares reissued an “outperform” rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Royal Bank of Canada restated an “outperform” rating and issued a $53.00 price target on shares of GFL Environmental in a research note on Monday, February 24th. UBS Group increased their price objective on GFL Environmental from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Friday. Stifel Nicolaus raised GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, Scotiabank upped their price target on GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, GFL Environmental has an average rating of “Moderate Buy” and an average target price of $51.38.

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.