GFL Environmental Inc. (NYSE:GFL) Position Trimmed by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec trimmed its holdings in GFL Environmental Inc. (NYSE:GFL - Free Report) by 9.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 676,077 shares of the company's stock after selling 71,836 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.18% of GFL Environmental worth $26,999,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Fred Alger Management LLC boosted its position in GFL Environmental by 64.3% during the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company's stock worth $407,619,000 after acquiring an additional 3,999,363 shares during the period. Verition Fund Management LLC lifted its holdings in GFL Environmental by 539.9% in the third quarter. Verition Fund Management LLC now owns 84,468 shares of the company's stock worth $3,369,000 after purchasing an additional 71,268 shares during the period. Walleye Trading LLC bought a new position in GFL Environmental in the 3rd quarter valued at about $606,000. PEAK6 Investments LLC bought a new position in GFL Environmental in the 3rd quarter valued at about $2,473,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in GFL Environmental by 2.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,293 shares of the company's stock valued at $1,769,000 after buying an additional 848 shares during the period. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

GFL Environmental Trading Down 0.9 %

Shares of NYSE:GFL traded down $0.44 during midday trading on Monday, reaching $46.66. The company had a trading volume of 863,893 shares, compared to its average volume of 1,209,945. The company has a fifty day simple moving average of $42.34 and a two-hundred day simple moving average of $39.81. The firm has a market cap of $18.36 billion, a price-to-earnings ratio of -35.08 and a beta of 1.15. GFL Environmental Inc. has a 1-year low of $28.21 and a 1-year high of $47.43. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. Research analysts predict that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental's dividend payout ratio (DPR) is currently -4.51%.

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.