GFL Environmental Inc. (NYSE:GFL) Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. cut its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 339,904 shares of the company's stock after selling 78,361 shares during the quarter. Cibc World Market Inc. owned about 0.09% of GFL Environmental worth $15,147,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Fred Alger Management LLC raised its position in shares of 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 purchasing an additional 3,999,363 shares during the last quarter. Soros Fund Management LLC raised its holdings in shares of GFL Environmental by 487.0% in the third quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company's stock worth $125,874,000 after acquiring an additional 2,618,589 shares during the last quarter. FMR LLC lifted its position in shares of GFL Environmental by 7.4% in the third quarter. FMR LLC now owns 25,158,657 shares of the company's stock valued at $1,003,591,000 after acquiring an additional 1,728,598 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of GFL Environmental by 162.0% during the third quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company's stock valued at $50,694,000 after acquiring an additional 786,044 shares during the last quarter. Finally, Maverick Capital Ltd. increased its position in GFL Environmental by 11.3% during the 3rd quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company's stock worth $145,889,000 after purchasing an additional 372,534 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GFL. Scotiabank reduced their target price on shares of GFL Environmental from $51.00 to $50.00 and set a "sector outperform" rating on the stock in a report on Monday, January 27th. Citigroup began coverage on shares of GFL Environmental in a research note on Monday, January 27th. They issued a "buy" rating and a $53.00 target price for the company. Truist Financial increased their price target on GFL Environmental from $46.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Raymond James lifted their price objective on GFL Environmental from $47.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, UBS Group increased their target price on GFL Environmental from $47.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $47.50.

GFL Environmental Stock Up 2.0 %

Shares of GFL traded up $0.88 during midday trading on Tuesday, reaching $44.35. 915,519 shares of the company were exchanged, compared to its average volume of 1,983,940. GFL Environmental Inc. has a 1-year low of $30.57 and a 1-year high of $48.87. The stock has a 50-day moving average price of $44.48 and a 200-day moving average price of $42.35. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The company has a market cap of $17.44 billion, a price-to-earnings ratio of -33.34 and a beta of 1.17.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly 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 positive return on equity of 3.50% and a negative net margin of 7.54%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Research analysts expect that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 13th were paid a dividend of $0.014 per share. The ex-dividend date was Monday, January 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental's dividend payout ratio is presently -4.51%.

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.