Bank of Montreal Can Acquires 312,472 Shares of GFL Environmental Inc. (NYSE:GFL)

Bank of Montreal Can increased its holdings in GFL Environmental Inc. (NYSE:GFL - Free Report) by 35.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,190,903 shares of the company's stock after purchasing an additional 312,472 shares during the period. Bank of Montreal Can owned approximately 0.32% of GFL Environmental worth $46,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in GFL Environmental by 9.4% in the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company's stock worth $273,053,000 after purchasing an additional 683,120 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in GFL Environmental by 36.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 79,721 shares of the company's stock worth $2,746,000 after buying an additional 21,254 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in GFL Environmental by 31.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 13,123 shares of the company's stock worth $453,000 after acquiring an additional 3,166 shares during the last quarter. Tidal Investments LLC increased its position in GFL Environmental by 68.6% in the 1st quarter. Tidal Investments LLC now owns 18,133 shares of the company's stock valued at $626,000 after acquiring an additional 7,377 shares in the last quarter. Finally, Cape Investment Advisory Inc. lifted its position in shares of GFL Environmental by 325.0% during the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company's stock worth $44,000 after purchasing an additional 975 shares in the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Truist Financial upped their price objective on GFL Environmental from $46.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Scotiabank upped their price target on GFL Environmental from $50.00 to $51.00 and gave the company a "sector outperform" rating in a research note on Friday, November 8th. Raymond James lifted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. UBS Group upped their price objective on GFL Environmental from $47.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada increased their target price 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. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $45.80.

GFL Environmental Stock Down 0.8 %

GFL stock traded down $0.36 during midday trading on Thursday, hitting $46.26. The company's stock had a trading volume of 674,987 shares, compared to its average volume of 1,214,340. The company's fifty day moving average price is $42.19 and its 200 day moving average price is $39.59. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. GFL Environmental Inc. has a twelve month low of $26.87 and a twelve month high of $47.11. The stock has a market capitalization of $18.20 billion, a P/E ratio of -34.78 and a beta of 1.15.

GFL Environmental (NYSE:GFL - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. As a group, equities research analysts predict that GFL Environmental Inc. will post 0.59 EPS for the current 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 issued a dividend of $0.014 per share. The ex-dividend date was Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. GFL Environmental's payout ratio is -3.76%.

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.