Connor Clark & Lunn Investment Management Ltd. Increases Stake in GFL Environmental Inc. (NYSE:GFL)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 15.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,292,419 shares of the company's stock after buying an additional 169,437 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.33% of GFL Environmental worth $57,541,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GFL. US Bancorp DE boosted its position in shares of GFL Environmental by 51.5% during the 3rd quarter. US Bancorp DE now owns 2,569 shares of the company's stock worth $102,000 after purchasing an additional 873 shares during the period. Atria Investments Inc boosted its position in shares of GFL Environmental by 11.3% during the third quarter. Atria Investments Inc now owns 15,400 shares of the company's stock worth $614,000 after buying an additional 1,567 shares during the period. Aigen Investment Management LP grew its stake in shares of GFL Environmental by 87.3% in the third quarter. Aigen Investment Management LP now owns 13,665 shares of the company's stock valued at $545,000 after buying an additional 6,370 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of GFL Environmental by 93.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 40,304 shares of the company's stock valued at $1,607,000 after buying an additional 19,520 shares during the period. Finally, Swiss National Bank lifted its stake in GFL Environmental by 0.8% during the 3rd quarter. Swiss National Bank now owns 661,900 shares of the company's stock worth $26,446,000 after acquiring an additional 5,400 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

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GFL Environmental Stock Up 0.5 %

Shares of NYSE GFL traded up $0.25 during midday trading on Friday, hitting $46.24. 1,811,901 shares of the company's stock were exchanged, compared to its average volume of 1,316,876. The firm's fifty day simple moving average is $44.75 and its 200-day simple moving average is $43.50. The company has a market cap of $18.19 billion, a PE ratio of -34.77 and a beta of 1.16. GFL Environmental Inc. has a twelve month low of $30.57 and a twelve month high of $48.87. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.98 billion. Research analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 13th were issued a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Monday, January 13th. GFL Environmental's payout ratio is currently -3.23%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GFL. Citigroup started coverage on shares of GFL Environmental in a research report on Monday, January 27th. They set a "buy" rating and a $53.00 price target on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $53.00 price objective on shares of GFL Environmental in a research report on Monday, February 24th. National Bankshares reiterated 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, Scotiabank lifted their price objective on GFL Environmental from $50.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $49.78.

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.