CIBC Asset Management Inc Cuts Holdings in GFL Environmental Inc. (NYSE:GFL)

CIBC Asset Management Inc decreased its stake in GFL Environmental Inc. (NYSE:GFL - Free Report) by 14.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,005,097 shares of the company's stock after selling 327,318 shares during the quarter. CIBC Asset Management Inc owned approximately 0.53% of GFL Environmental worth $80,017,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors lifted its holdings in shares of GFL Environmental by 17.4% during the first quarter. Capital Research Global Investors now owns 19,851,514 shares of the company's stock worth $684,877,000 after buying an additional 2,935,811 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of GFL Environmental by 9.4% during the 1st 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 during the period. Fred Alger Management LLC raised its position in shares of GFL Environmental by 7.1% during the second quarter. Fred Alger Management LLC now owns 6,221,767 shares of the company's stock valued at $242,213,000 after buying an additional 411,128 shares during the last quarter. Millennium Management LLC lifted its stake in shares of GFL Environmental by 40.0% in the second quarter. Millennium Management LLC now owns 5,649,169 shares of the company's stock valued at $219,922,000 after buying an additional 1,614,182 shares during the period. Finally, Maverick Capital Ltd. grew its position in GFL Environmental by 22.1% during the second quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company's stock worth $127,911,000 after buying an additional 595,259 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company's stock.

GFL Environmental Stock Performance

GFL traded up $0.66 during trading on Friday, hitting $44.06. 962,187 shares of the company traded hands, compared to its average volume of 1,221,208. GFL Environmental Inc. has a one year low of $26.87 and a one year high of $46.48. The stock's fifty day moving average is $41.01 and its 200 day moving average is $38.68. The company has a quick ratio of 0.89, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The firm has a market cap of $16.59 billion, a P/E ratio of -32.62 and a beta of 1.15.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. As a group, equities analysts predict that GFL Environmental Inc. will post 0.6 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a $0.014 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental's dividend payout ratio is currently -4.51%.

Analysts Set New Price Targets

Several research firms have recently weighed in on GFL. Royal Bank of Canada upped their price objective on GFL Environmental from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Scotiabank upped their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 8th. Raymond James boosted their price objective 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 increased their price objective on GFL Environmental from $47.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Truist Financial boosted their target price on GFL Environmental from $46.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. 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 has a consensus rating of "Moderate Buy" and a consensus price target of $45.80.

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.