Bank of Nova Scotia Has $15.14 Million Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Bank of Nova Scotia raised its position in GFL Environmental Inc. (NYSE:GFL - Free Report) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 339,661 shares of the company's stock after acquiring an additional 23,653 shares during the quarter. Bank of Nova Scotia owned 0.09% of GFL Environmental worth $15,139,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Generate Investment Management Ltd bought a new position in shares of GFL Environmental during the fourth quarter worth about $15,041,000. Tobam acquired a new position in shares of GFL Environmental during the 4th quarter valued at $1,846,000. National Bank of Canada FI raised its stake in shares of GFL Environmental by 16.9% in the 3rd quarter. National Bank of Canada FI now owns 214,007 shares of the company's stock worth $8,536,000 after buying an additional 31,003 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of GFL Environmental in the fourth quarter valued at $18,836,000. Finally, Bleakley Financial Group LLC raised its position in GFL Environmental by 9.9% in the fourth quarter. Bleakley Financial Group LLC now owns 7,954 shares of the company's stock worth $354,000 after acquiring an additional 718 shares in the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Stock Performance

Shares of NYSE:GFL traded down $0.01 during midday trading on Wednesday, hitting $48.96. The company's stock had a trading volume of 192,505 shares, compared to its average volume of 1,454,567. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The stock's 50 day simple moving average is $46.62 and its 200 day simple moving average is $44.60. The stock has a market capitalization of $19.26 billion, a price-to-earnings ratio of -36.81 and a beta of 1.09. GFL Environmental Inc. has a fifty-two week low of $30.57 and a fifty-two week high of $49.72.

GFL Environmental (NYSE:GFL - Get Free Report) last released its earnings results on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.98 billion. As a group, research analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 14th will be paid a dividend of $0.0154 per share. This is a boost from GFL Environmental's previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 0.13%. GFL Environmental's dividend payout ratio is presently -3.87%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GFL. Citigroup cut their price objective on GFL Environmental from $56.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus raised GFL Environmental from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Truist Financial upped their price target on shares of GFL Environmental from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday, April 2nd. Scotiabank boosted their target price on GFL Environmental from $52.00 to $54.00 and gave the company an "outperform" rating in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $53.00 price target on shares of GFL Environmental in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, GFL Environmental currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.25.

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.