Canada Pension Plan Investment Board Raises Position in GFL Environmental Inc. (NYSE:GFL)

Canada Pension Plan Investment Board boosted its stake in GFL Environmental Inc. (NYSE:GFL - Free Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,906 shares of the company's stock after purchasing an additional 30,000 shares during the quarter. Canada Pension Plan Investment Board owned about 0.14% of GFL Environmental worth $24,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of GFL. Public Employees Retirement System of Ohio purchased a new stake in shares of GFL Environmental during the 3rd quarter valued at $627,000. Geode Capital Management LLC raised its position in GFL Environmental by 7.7% during the third quarter. Geode Capital Management LLC now owns 918,706 shares of the company's stock valued at $36,296,000 after purchasing an additional 65,449 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in GFL Environmental during the third quarter worth about $174,000. Tidal Investments LLC boosted its holdings in shares of GFL Environmental by 6.3% in the 3rd quarter. Tidal Investments LLC now owns 20,853 shares of the company's stock worth $832,000 after purchasing an additional 1,238 shares in the last quarter. Finally, BluePath Capital Management LLC bought a new position in shares of GFL Environmental during the 4th quarter valued at about $248,000. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Trading Up 1.4 %

Shares of NYSE:GFL traded up $0.65 on Wednesday, hitting $48.08. The company had a trading volume of 1,282,859 shares, compared to its average volume of 1,470,986. GFL Environmental Inc. has a 1 year low of $30.57 and a 1 year high of $49.45. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The firm's 50-day simple moving average is $46.83 and its two-hundred day simple moving average is $44.89. The firm has a market capitalization of $18.91 billion, a price-to-earnings ratio of -36.15 and a beta of 1.09.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.16 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.98 billion. Equities analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 14th will be given a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.13%. This is a positive change from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's dividend payout ratio (DPR) is -3.87%.

Analyst Upgrades and Downgrades

GFL has been the subject of several research reports. Truist Financial upped their target price on GFL Environmental from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday, April 2nd. Scotiabank increased their target price on shares of GFL Environmental from $52.00 to $54.00 and gave the company an "outperform" rating in a report on Tuesday, April 8th. National Bankshares reissued an "outperform" rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Stifel Nicolaus raised GFL Environmental from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Finally, UBS Group boosted their target price on GFL Environmental from $50.00 to $57.00 and gave the company a "buy" rating in a research note on Friday, April 4th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.00.

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.