Connor Clark & Lunn Investment Management Ltd. Decreases Stock Position in GFL Environmental Inc. (NYSE:GFL)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,122,982 shares of the company's stock after selling 52,618 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.30% of GFL Environmental worth $44,791,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truist Financial Corp lifted its position in GFL Environmental by 1.8% during the 2nd quarter. Truist Financial Corp now owns 15,463 shares of the company's stock worth $602,000 after acquiring an additional 268 shares during the period. Signaturefd LLC increased its position in shares of GFL Environmental by 23.5% in the 2nd quarter. Signaturefd LLC now owns 2,149 shares of the company's stock valued at $84,000 after purchasing an additional 409 shares during the last quarter. Fifth Third Bancorp lifted its stake in GFL Environmental by 51.1% in the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company's stock valued at $53,000 after buying an additional 459 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in GFL Environmental by 3.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company's stock valued at $838,000 after purchasing an additional 664 shares during the period. Finally, Capital Insight Partners LLC grew its stake in GFL Environmental by 2.4% in the 2nd quarter. Capital Insight Partners LLC now owns 35,650 shares of the company's stock valued at $1,388,000 after acquiring an additional 820 shares during the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GFL. UBS Group raised their target price 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 lifted 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. Truist Financial increased their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Raymond James lifted their price target on GFL Environmental from $47.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada lifted their price objective on shares of GFL Environmental from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $45.80.

GFL Environmental Trading Down 0.7 %

GFL traded down $0.32 on Wednesday, hitting $45.27. The company had a trading volume of 1,090,233 shares, compared to its average volume of 1,218,550. 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 firm has a market cap of $17.05 billion, a P/E ratio of -34.28 and a beta of 1.15. GFL Environmental Inc. has a 1 year low of $26.87 and a 1 year high of $46.48. The company's fifty day moving average price is $41.32 and its 200 day moving average price is $39.02.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. As a group, equities analysts expect that GFL Environmental Inc. will post 0.6 earnings per share for the current year.

GFL Environmental Announces Dividend

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