GFL Environmental Inc. (NYSE:GFL) Shares Purchased by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. raised its stake in GFL Environmental Inc. (NYSE:GFL - Free Report) by 59.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,350 shares of the company's stock after buying an additional 32,800 shares during the quarter. GFL Environmental makes up approximately 1.1% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 27th largest position. PCJ Investment Counsel Ltd.'s holdings in GFL Environmental were worth $3,524,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Cape Investment Advisory Inc. boosted its position in GFL Environmental by 325.0% during the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company's stock worth $44,000 after purchasing an additional 975 shares in the last quarter. Fifth Third Bancorp boosted its stake in GFL Environmental by 51.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company's stock valued at $53,000 after purchasing an additional 459 shares in the last quarter. Spartan Fund Management Inc. acquired a new stake in shares of GFL Environmental in the third quarter worth $60,000. Tobam raised its holdings in shares of GFL Environmental by 139.5% during the second quarter. Tobam now owns 1,751 shares of the company's stock worth $68,000 after acquiring an additional 1,020 shares in the last quarter. Finally, Avior Wealth Management LLC bought a new position in shares of GFL Environmental in the third quarter worth about $82,000. Institutional investors and hedge funds own 64.70% of the company's stock.

GFL Environmental Price Performance

GFL Environmental stock traded down $0.38 during mid-day trading on Wednesday, reaching $45.21. 647,120 shares of the company were exchanged, compared to its average volume of 1,216,278. The firm has a market cap of $17.02 billion, a PE ratio of -34.28 and a beta of 1.15. GFL Environmental Inc. has a 12 month low of $26.87 and a 12 month high of $46.48. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The company has a fifty day simple moving average of $41.32 and a 200-day simple moving average of $39.02.

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

GFL Environmental Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a dividend of $0.014 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. GFL Environmental's dividend payout ratio is presently -4.51%.

Wall Street Analyst Weigh In

GFL has been the subject of several recent research reports. Scotiabank upped their target price on shares of GFL Environmental from $50.00 to $51.00 and gave the company a "sector outperform" rating in a research report on Friday, November 8th. UBS Group increased their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their target price on shares of GFL Environmental from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Raymond James lifted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Truist Financial boosted their price objective on shares of GFL Environmental from $46.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, GFL Environmental currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.80.

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.