Addenda Capital Inc. Has $11.73 Million Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Addenda Capital Inc. reduced its position in GFL Environmental Inc. (NYSE:GFL) by 5.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 263,350 shares of the company’s stock after selling 14,110 shares during the period. Addenda Capital Inc.’s holdings in GFL Environmental were worth $11,730,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GFL. Avanza Fonder AB bought a new stake in shares of GFL Environmental during the 4th quarter worth $1,063,000. BluePath Capital Management LLC acquired a new position in shares of GFL Environmental in the fourth quarter valued at $248,000. Tidal Investments LLC lifted its holdings in shares of GFL Environmental by 6.3% during the 3rd quarter. Tidal Investments LLC now owns 20,853 shares of the company’s stock worth $832,000 after acquiring an additional 1,238 shares during the period. Sanctuary Advisors LLC bought a new position in GFL Environmental during the third quarter worth about $174,000. Finally, TCW Group Inc. boosted its stake in GFL Environmental by 24.6% in the 3rd quarter. TCW Group Inc. now owns 21,598 shares of the company’s stock valued at $861,000 after buying an additional 4,270 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on GFL. Truist Financial increased their target price 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 boosted their target price on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Scotiabank raised their price objective on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Finally, Raymond James lifted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

GFL Environmental Stock Performance

GFL opened at $41.85 on Tuesday. GFL Environmental Inc. has a 52-week low of $30.57 and a 52-week high of $48.87. The firm has a market capitalization of $16.46 billion, a PE ratio of -31.46 and a beta of 1.17. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The business’s 50-day simple moving average is $44.99 and its 200 day simple moving average is $42.05.

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

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 13th will be issued a $0.014 dividend. The ex-dividend date is Monday, January 13th. This represents a $0.06 annualized dividend and a yield of 0.13%. GFL Environmental’s dividend payout ratio is currently -4.51%.

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.