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

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in GFL Environmental Inc. (NYSE:GFL) by 12.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,628 shares of the company’s stock after selling 15,629 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in GFL Environmental were worth $4,452,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Seven Grand Managers LLC purchased a new position in shares of GFL Environmental during the 3rd quarter worth approximately $1,994,000. Harbor Capital Advisors Inc. boosted its position in shares of GFL Environmental by 115.3% during the third quarter. Harbor Capital Advisors Inc. now owns 49,566 shares of the company’s stock worth $1,977,000 after buying an additional 26,542 shares during the period. FMR LLC boosted its position 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. Copeland Capital Management LLC grew its stake in shares of GFL Environmental by 2.2% in the third quarter. Copeland Capital Management LLC now owns 921,377 shares of the company’s stock valued at $36,745,000 after buying an additional 19,675 shares in the last quarter. Finally, Forsta AP Fonden purchased a new stake in shares of GFL Environmental in the 3rd quarter valued at $1,761,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

GFL Environmental Stock Performance

Shares of GFL opened at $46.66 on Tuesday. The company has a market capitalization of $18.36 billion, a price-to-earnings ratio of -35.08 and a beta of 1.15. GFL Environmental Inc. has a 52-week low of $28.21 and a 52-week high of $47.43. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average price of $42.34 and a 200 day moving average price of $39.81.

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. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Research analysts predict that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

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