PCJ Investment Counsel Ltd. Cuts Position in GFL Environmental Inc. (NYSE:GFL)

PCJ Investment Counsel Ltd. decreased its position in GFL Environmental Inc. (NYSE:GFL - Free Report) by 66.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,780 shares of the company's stock after selling 58,570 shares during the quarter. PCJ Investment Counsel Ltd.'s holdings in GFL Environmental were worth $1,326,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in GFL Environmental by 7.4% in the third quarter. FMR LLC now owns 25,158,657 shares of the company's stock valued at $1,003,591,000 after acquiring an additional 1,728,598 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in GFL Environmental by 2.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company's stock valued at $471,287,000 after acquiring an additional 257,486 shares during the period. Fred Alger Management LLC lifted its holdings in GFL Environmental by 64.3% in the third quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company's stock valued at $407,619,000 after acquiring an additional 3,999,363 shares during the period. Maverick Capital Ltd. lifted its holdings in GFL Environmental by 11.3% in the third quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company's stock valued at $145,889,000 after acquiring an additional 372,534 shares during the period. Finally, Soros Fund Management LLC lifted its holdings in GFL Environmental by 487.0% in the third quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company's stock valued at $125,874,000 after acquiring an additional 2,618,589 shares during the period. Institutional investors own 64.70% of the company's stock.

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Analyst Ratings Changes

GFL has been the topic of a number of recent research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $53.00 target price on shares of GFL Environmental in a report on Monday, February 24th. Scotiabank upped their price target on GFL Environmental from $50.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, March 5th. Citigroup initiated coverage on GFL Environmental in a research report on Monday, January 27th. They issued a "buy" rating and a $53.00 price target for the company. Stifel Nicolaus upgraded GFL Environmental from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Finally, National Bankshares restated an "outperform" rating on shares of GFL Environmental in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.78.

GFL Environmental Price Performance

Shares of NYSE:GFL traded down $0.23 during trading on Wednesday, hitting $46.06. 1,664,324 shares of the company's stock were exchanged, compared to its average volume of 1,929,070. 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 Inc. has a 52-week low of $30.57 and a 52-week high of $48.87. The business's 50-day simple moving average is $44.66 and its 200 day simple moving average is $43.43. The company has a market cap of $18.12 billion, a price-to-earnings ratio of -34.63 and a beta of 1.16.

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

GFL Environmental Dividend Announcement

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

GFL Environmental Company 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.