Canada Pension Plan Investment Board Grows Stock Position in GFL Environmental Inc. (NYSE:GFL)

Canada Pension Plan Investment Board increased its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 32.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 509,906 shares of the company’s stock after buying an additional 126,091 shares during the quarter. Canada Pension Plan Investment Board owned about 0.14% of GFL Environmental worth $19,854,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Harbert Fund Advisors Inc. purchased a new position in GFL Environmental during the fourth quarter worth about $1,329,000. Vanguard Group Inc. increased its stake in GFL Environmental by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 7,231,470 shares of the company’s stock worth $249,558,000 after acquiring an additional 77,156 shares during the last quarter. CIBC Asset Management Inc increased its stake in GFL Environmental by 13.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,520,450 shares of the company’s stock worth $87,225,000 after acquiring an additional 294,432 shares during the last quarter. 1832 Asset Management L.P. increased its stake in GFL Environmental by 27.6% during the fourth quarter. 1832 Asset Management L.P. now owns 804,540 shares of the company’s stock worth $27,765,000 after acquiring an additional 173,800 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in GFL Environmental by 33.8% during the first quarter. Toronto Dominion Bank now owns 74,152 shares of the company’s stock worth $2,558,000 after acquiring an additional 18,742 shares during the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GFL has been the subject of several research analyst reports. BMO Capital Markets lowered GFL Environmental from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $43.00 to $42.00 in a research note on Tuesday, July 9th. Raymond James increased their target price on GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada increased their target price on GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.64.

GFL Environmental Stock Performance

Shares of GFL Environmental stock opened at $39.27 on Monday. The stock has a market cap of $14.78 billion, a PE ratio of 38.13 and a beta of 1.16. The business has a fifty day simple moving average of $40.30 and a 200-day simple moving average of $36.76. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.45. GFL Environmental Inc. has a 12 month low of $26.87 and a 12 month high of $43.79.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. On average, sell-side analysts anticipate that GFL Environmental Inc. will post 0.62 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 15th were given a dividend of $0.014 per share. The ex-dividend date was Monday, July 15th. This represents a $0.06 dividend on an annualized basis and a yield of 0.14%. GFL Environmental’s dividend payout ratio (DPR) is presently 4.85%.

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.