Intact Investment Management Inc. Decreases Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Intact Investment Management Inc. reduced its position in GFL Environmental Inc. (NYSE:GFL - Free Report) by 83.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,800 shares of the company's stock after selling 179,416 shares during the quarter. Intact Investment Management Inc.'s holdings in GFL Environmental were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC increased its stake in GFL Environmental by 48.9% in the 4th quarter. Signaturefd LLC now owns 1,178 shares of the company's stock worth $41,000 after buying an additional 387 shares in the last quarter. Fifth Third Bancorp lifted its holdings in GFL Environmental by 51.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company's stock worth $53,000 after purchasing an additional 459 shares in the last quarter. Tobam bought a new position in GFL Environmental in the 1st quarter worth approximately $25,000. Van ECK Associates Corp boosted its stake in GFL Environmental by 0.9% in the 4th quarter. Van ECK Associates Corp now owns 89,648 shares of the company's stock worth $3,094,000 after purchasing an additional 775 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in GFL Environmental by 13.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,795 shares of the company's stock valued at $234,000 after buying an additional 780 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Trading Up 1.7 %

Shares of NYSE:GFL traded up $0.71 during trading on Friday, hitting $43.31. The company had a trading volume of 667,729 shares, compared to its average volume of 1,206,288. The stock has a market cap of $16.30 billion, a price-to-earnings ratio of 41.24 and a beta of 1.16. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.84 and a quick ratio of 0.84. The company has a fifty day simple moving average of $39.78 and a two-hundred day simple moving average of $36.27. GFL Environmental Inc. has a one year low of $26.87 and a one year high of $43.79.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. GFL Environmental had a positive return on equity of 3.26% and a negative net margin of 8.78%. As a group, equities analysts forecast that GFL Environmental Inc. will post 0.71 earnings per share for the current year.

GFL Environmental Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 15th were paid a dividend of $0.014 per share. The ex-dividend date was Monday, July 15th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. GFL Environmental's dividend payout ratio is presently 4.76%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GFL. BMO Capital Markets cut shares of GFL Environmental from an "outperform" rating to a "market perform" rating and cut their target price for the company from $43.00 to $42.00 in a research note on Tuesday, July 9th. Royal Bank of Canada lifted their target price on GFL Environmental from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. TD Cowen boosted their target price on GFL Environmental from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, May 6th. Finally, Raymond James raised their price target on GFL Environmental from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, July 22nd. Three equities 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $42.64.

GFL Environmental 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.