Beutel Goodman & Co Ltd. Sells 701,633 Shares of GFL Environmental Inc. (NYSE:GFL)

Beutel Goodman & Co Ltd. reduced its stake in GFL Environmental Inc. (NYSE:GFL) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,265,968 shares of the company’s stock after selling 701,633 shares during the period. Beutel Goodman & Co Ltd.’s holdings in GFL Environmental were worth $279,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. lifted its position in shares of GFL Environmental by 20.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,531,244 shares of the company’s stock valued at $68,202,000 after acquiring an additional 260,083 shares during the period. Duff & Phelps Investment Management Co. raised its stake in GFL Environmental by 9.9% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 341,820 shares of the company’s stock valued at $15,225,000 after purchasing an additional 30,902 shares in the last quarter. Norges Bank bought a new stake in GFL Environmental during the fourth quarter worth about $126,420,000. JPMorgan Chase & Co. grew its stake in GFL Environmental by 18.6% during the fourth quarter. JPMorgan Chase & Co. now owns 968,669 shares of the company’s stock worth $43,145,000 after buying an additional 152,072 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in GFL Environmental by 104.7% in the 4th quarter. Korea Investment CORP now owns 119,699 shares of the company’s stock valued at $5,333,000 after buying an additional 61,211 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Stock Down 2.1 %

Shares of GFL opened at $47.78 on Friday. The company has a market capitalization of $18.80 billion, a PE ratio of -35.93 and a beta of 1.16. The stock’s 50-day moving average price is $45.60 and its two-hundred day moving average price is $43.91. 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 $30.57 and a 12 month high of $49.35.

GFL Environmental (NYSE:GFL) last announced its earnings results on Monday, February 24th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. The business had revenue of $1.42 billion for 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 anticipate that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 13th were paid a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Monday, January 13th. GFL Environmental’s dividend payout ratio is presently -3.23%.

Wall Street Analyst Weigh In

GFL has been the subject of a number of recent analyst reports. Stifel Nicolaus raised shares of GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and set a $53.00 target price on shares of GFL Environmental in a research note on Monday, February 24th. National Bankshares reiterated an “outperform” rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Scotiabank boosted 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. Finally, Citigroup assumed coverage on GFL Environmental in a research note on Monday, January 27th. They issued a “buy” rating and a $53.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, GFL Environmental currently has an average rating of “Moderate Buy” and a consensus price target of $49.63.

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.