BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Holdings in GFL Environmental Inc. (NYSE:GFL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 12.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 111,628 shares of the company’s stock after selling 15,629 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in GFL Environmental were worth $4,452,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of GFL. FMR LLC boosted its stake in shares of GFL Environmental by 7.4% during the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after buying an additional 1,728,598 shares during the period. Massachusetts Financial Services Co. MA lifted its position in GFL Environmental by 2.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company’s stock worth $471,287,000 after acquiring an additional 257,486 shares during the period. Fred Alger Management LLC grew its stake in shares of GFL Environmental by 64.3% in the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after purchasing an additional 3,999,363 shares during the last quarter. Millennium Management LLC grew its stake in shares of GFL Environmental by 40.0% in the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock valued at $219,922,000 after purchasing an additional 1,614,182 shares during the last quarter. Finally, Maverick Capital Ltd. increased its holdings in shares of GFL Environmental by 11.3% in the third quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock valued at $145,889,000 after purchasing an additional 372,534 shares during the period. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GFL has been the subject of several recent research reports. Truist Financial increased their price target on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 8th. UBS Group lifted their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Raymond James boosted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Scotiabank raised their price objective on shares of GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.80.

GFL Environmental Price Performance

GFL stock opened at $46.66 on Tuesday. The firm has a 50 day moving average of $42.34 and a 200-day moving average of $39.81. The company has a market cap of $18.36 billion, a price-to-earnings ratio of -35.08 and a beta of 1.15. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a 12-month low of $28.21 and a 12-month high of $47.43.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. As a group, equities analysts expect that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is presently -4.51%.

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.