GFL Environmental Inc. $GFL Shares Sold by TD Asset Management Inc

TD Asset Management Inc decreased its stake in GFL Environmental Inc. (NYSE:GFL) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,014,170 shares of the company’s stock after selling 63,931 shares during the period. TD Asset Management Inc’s holdings in GFL Environmental were worth $43,622,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GFL. Norges Bank acquired a new position in shares of GFL Environmental in the 4th quarter valued at $149,466,000. Nordea Investment Management AB boosted its holdings in shares of GFL Environmental by 40.8% in the 4th quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock valued at $290,083,000 after buying an additional 1,932,442 shares in the last quarter. UBS Group AG boosted its holdings in shares of GFL Environmental by 203.9% in the 3rd quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock valued at $92,224,000 after buying an additional 1,305,953 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of GFL Environmental by 25.5% in the 3rd quarter. American Century Companies Inc. now owns 6,023,139 shares of the company’s stock valued at $285,377,000 after buying an additional 1,225,108 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of GFL Environmental by 25.8% in the 4th quarter. CIBC Asset Management Inc now owns 5,101,264 shares of the company’s stock valued at $219,360,000 after buying an additional 1,047,180 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Weiss Ratings cut shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Citigroup decreased their price target on shares of GFL Environmental from $55.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Barclays increased their price target on shares of GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. cut shares of GFL Environmental from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $49.00 to $42.00 in a research note on Tuesday, April 14th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Twelve equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

GFL Environmental Stock Down 0.8%

Shares of GFL Environmental stock opened at $35.50 on Friday. The company has a market cap of $12.73 billion, a P/E ratio of 110.94, a PEG ratio of 2.76 and a beta of 0.71. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51. GFL Environmental Inc. has a one year low of $33.33 and a one year high of $51.51. The firm has a fifty day moving average of $38.61 and a two-hundred day moving average of $41.77.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. GFL Environmental’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.09) EPS. On average, analysts forecast that GFL Environmental Inc. will post 0.54 earnings per share for the current year.

GFL Environmental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 13th were given a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, April 13th. This is an increase from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s payout ratio is currently 21.88%.

GFL Environmental Company Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.