GFL Environmental Inc. (NYSE:GFL) Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. decreased its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 10.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,265,968 shares of the company's stock after selling 701,633 shares during the period. Beutel Goodman & Co Ltd. owned 1.59% of GFL Environmental worth $279,184,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its holdings in shares of GFL Environmental by 20.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,531,244 shares of the company's stock valued at $68,202,000 after purchasing an additional 260,083 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its position in shares of GFL Environmental by 9.9% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 341,820 shares of the company's stock valued at $15,225,000 after purchasing an additional 30,902 shares in the last quarter. Norges Bank acquired a new position in shares of GFL Environmental during the fourth quarter valued at about $126,420,000. JPMorgan Chase & Co. grew its position in GFL Environmental by 18.6% in the 4th quarter. JPMorgan Chase & Co. now owns 968,669 shares of the company's stock valued at $43,145,000 after purchasing an additional 152,072 shares during the period. Finally, Korea Investment CORP increased its position in shares of GFL Environmental by 104.7% during the fourth quarter. Korea Investment CORP now owns 119,699 shares of the company's stock worth $5,333,000 after acquiring an additional 61,211 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup initiated coverage on GFL Environmental in a research report on Monday, January 27th. They issued a "buy" rating and a $53.00 price objective on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $53.00 target price on shares of GFL Environmental in a research note on Monday, February 24th. Scotiabank lifted their price target on GFL Environmental from $50.00 to $52.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, March 5th. Stifel Nicolaus upgraded shares of GFL Environmental from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Finally, National Bankshares restated an "outperform" rating on shares of GFL Environmental in a report on Tuesday, March 11th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $49.63.

GFL Environmental Stock Performance

NYSE GFL traded up $0.62 on Monday, hitting $48.38. 2,144,476 shares of the company's stock traded hands, compared to its average volume of 1,381,229. The firm has a market capitalization of $19.03 billion, a PE ratio of -36.37 and a beta of 1.16. The firm's 50-day moving average price is $45.60 and its two-hundred day moving average price is $43.96. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a 1-year low of $30.57 and a 1-year high of $49.35.

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

GFL Environmental Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 13th were issued a $0.014 dividend. The ex-dividend date was Monday, January 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. GFL Environmental's dividend payout ratio (DPR) is presently -3.23%.

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.