AGF Management Ltd. Decreases Stake in GFL Environmental Inc. (NYSE:GFL)

AGF Management Ltd. trimmed its stake in GFL Environmental Inc. (NYSE:GFL - Free Report) by 63.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,007 shares of the company's stock after selling 143,753 shares during the period. AGF Management Ltd.'s holdings in GFL Environmental were worth $3,233,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Capital Research Global Investors boosted its holdings in GFL Environmental by 17.4% in the first quarter. Capital Research Global Investors now owns 19,851,514 shares of the company's stock worth $684,877,000 after acquiring an additional 2,935,811 shares in the last quarter. Vanguard Group Inc. boosted its position in GFL Environmental by 9.4% in the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company's stock valued at $273,053,000 after buying an additional 683,120 shares during the last quarter. CIBC Asset Management Inc boosted its position in GFL Environmental by 13.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,520,450 shares of the company's stock valued at $87,225,000 after buying an additional 294,432 shares during the last quarter. Norges Bank acquired a new position in GFL Environmental in the 4th quarter worth approximately $85,441,000. Finally, Jennison Associates LLC raised its position in GFL Environmental by 3.3% during the 1st quarter. Jennison Associates LLC now owns 1,377,478 shares of the company's stock worth $47,523,000 after buying an additional 44,517 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 recently issued reports on GFL. BMO Capital Markets cut shares of GFL Environmental from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $43.00 to $42.00 in a report on Tuesday, July 9th. Raymond James lifted their price objective on GFL Environmental from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada upped their target price on GFL Environmental from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, GFL Environmental has a consensus rating of "Moderate Buy" and an average price target of $42.64.

GFL Environmental Price Performance

GFL stock traded down $0.23 during mid-day trading on Friday, reaching $40.03. 1,599,309 shares of the company's stock were exchanged, compared to its average volume of 1,239,919. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.89 and a quick ratio of 0.89. GFL Environmental Inc. has a 12-month low of $26.87 and a 12-month high of $43.79. The stock's 50 day moving average is $40.18 and its 200 day moving average is $36.57. The company has a market cap of $15.07 billion, a price-to-earnings ratio of 81.59 and a beta of 1.16.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. The firm 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 3.32% and a negative net margin of 8.78%. On average, research analysts expect that GFL Environmental Inc. will post 0.62 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders 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 0.14%.

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.