BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Stock Position in GFL Environmental Inc. (NYSE:GFL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 12.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 127,257 shares of the company’s stock after selling 18,109 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in GFL Environmental were worth $4,957,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of GFL Environmental by 54.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 552,531 shares of the company’s stock valued at $19,068,000 after acquiring an additional 194,899 shares in the last quarter. Advisory Services Network LLC lifted its holdings in shares of GFL Environmental by 27.9% during the 4th quarter. Advisory Services Network LLC now owns 7,859 shares of the company’s stock valued at $271,000 after acquiring an additional 1,713 shares in the last quarter. Scotia Capital Inc. lifted its holdings in shares of GFL Environmental by 1.9% during the 4th quarter. Scotia Capital Inc. now owns 90,483 shares of the company’s stock valued at $3,115,000 after acquiring an additional 1,645 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of GFL Environmental by 35.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 281,644 shares of the company’s stock valued at $9,720,000 after acquiring an additional 73,506 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of GFL Environmental by 11.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 842,970 shares of the company’s stock valued at $29,126,000 after acquiring an additional 88,314 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Price Performance

Shares of NYSE:GFL opened at $39.49 on Friday. 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 fifty-two week low of $26.87 and a fifty-two week high of $43.79. The firm has a 50-day simple moving average of $40.36 and a 200 day simple moving average of $36.85. The company has a market cap of $14.87 billion, a PE ratio of 80.92 and a beta of 1.16.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.21 earnings per share for the quarter, beating 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 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 year.

GFL Environmental Announces Dividend

The firm also recently disclosed 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. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, July 15th.

Analyst Ratings Changes

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

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.