Toronto Dominion Bank Grows Stock Position in GFL Environmental Inc. (NYSE:GFL)

Toronto Dominion Bank raised its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 20.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,578 shares of the company's stock after acquiring an additional 17,493 shares during the quarter. Toronto Dominion Bank's holdings in GFL Environmental were worth $4,171,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Continuum Advisory LLC lifted its stake in shares of GFL Environmental by 60.6% during the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company's stock worth $29,000 after purchasing an additional 254 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of GFL Environmental by 51.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company's stock valued at $53,000 after buying an additional 459 shares in the last quarter. Spartan Fund Management Inc. bought a new stake in shares of GFL Environmental in the 3rd quarter valued at about $60,000. Tobam grew its position in shares of GFL Environmental by 139.5% in the 2nd quarter. Tobam now owns 1,751 shares of the company's stock worth $68,000 after buying an additional 1,020 shares during the last quarter. Finally, Avior Wealth Management LLC bought a new position in shares of GFL Environmental during the 3rd quarter worth approximately $82,000. Institutional investors own 64.70% of the company's stock.

GFL Environmental Stock Performance

Shares of GFL stock traded down $0.49 during trading hours on Friday, hitting $44.86. The company's stock had a trading volume of 646,223 shares, compared to its average volume of 1,197,567. 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 company has a 50 day moving average of $43.58 and a 200 day moving average of $40.83. GFL Environmental Inc. has a 12-month low of $30.57 and a 12-month high of $48.87. The stock has a market cap of $17.65 billion, a PE ratio of -33.73 and a beta of 1.16.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. On average, sell-side analysts forecast that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a $0.014 dividend. 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 presently -3.76%.

Wall Street Analyst Weigh In

GFL has been the topic of several analyst reports. Truist Financial lifted their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Scotiabank raised their price objective on GFL Environmental from $50.00 to $51.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 8th. UBS Group upped their target price on GFL Environmental from $47.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Raymond James raised their price target on GFL Environmental from $47.00 to $50.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. 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 an average rating of "Moderate Buy" and a consensus price target of $45.80.

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.