Marshall Wace LLP Buys 512,735 Shares of GFL Environmental Inc. (NYSE:GFL)

Marshall Wace LLP lifted its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 26.1% in the 2nd quarter, Holdings Channel reports. The fund owned 2,476,752 shares of the company’s stock after acquiring an additional 512,735 shares during the quarter. Marshall Wace LLP’s holdings in GFL Environmental were worth $96,420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GFL. Harbert Fund Advisors Inc. acquired a new stake in shares of GFL Environmental in the 4th quarter valued at about $1,329,000. Vanguard Group Inc. increased its stake in GFL Environmental by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 7,231,470 shares of the company’s stock valued at $249,558,000 after buying an additional 77,156 shares during the last quarter. CIBC Asset Management Inc raised its holdings 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 in the last quarter. 1832 Asset Management L.P. increased its position in shares of GFL Environmental by 27.6% during the 4th quarter. 1832 Asset Management L.P. now owns 804,540 shares of the company’s stock worth $27,765,000 after purchasing an additional 173,800 shares during the last quarter. Finally, Toronto Dominion Bank raised its position 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 in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Stock Performance

Shares of GFL Environmental stock opened at $39.87 on Wednesday. GFL Environmental Inc. has a 1-year low of $26.87 and a 1-year high of $43.79. The company has a market cap of $15.01 billion, a PE ratio of 38.71 and a beta of 1.16. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.45. The company has a 50 day moving average of $40.33 and a 200-day moving average of $36.79.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. As a group, equities research analysts forecast that GFL Environmental Inc. will post 0.62 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Monday, July 15th. GFL Environmental’s payout ratio is presently 4.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GFL shares. Raymond James lifted their price objective on shares of GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Royal Bank of Canada lifted their price target on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets lowered GFL Environmental from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $43.00 to $42.00 in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, GFL Environmental presently has an average rating of “Moderate Buy” and a consensus target price of $42.64.

About GFL Environmental

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.