GFL Environmental Inc. (NYSE:GFL) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lessened its position in GFL Environmental Inc. (NYSE:GFL) by 50.3% in the 4th quarter, Holdings Channel reports. The fund owned 234,716 shares of the company’s stock after selling 237,759 shares during the period. Intact Investment Management Inc.’s holdings in GFL Environmental were worth $8,097,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GFL. Jennison Associates LLC increased its holdings in shares of GFL Environmental by 12.5% in the 4th quarter. Jennison Associates LLC now owns 1,332,961 shares of the company’s stock valued at $46,000,000 after purchasing an additional 147,954 shares in the last quarter. Verde Servicos Internacionais S.A. purchased a new position in GFL Environmental during the 4th quarter valued at about $12,992,000. Signaturefd LLC increased its holdings in GFL Environmental by 48.9% during the 4th quarter. Signaturefd LLC now owns 1,178 shares of the company’s stock valued at $41,000 after acquiring an additional 387 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in GFL Environmental by 37.7% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 426,897 shares of the company’s stock valued at $14,732,000 after acquiring an additional 116,897 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in GFL Environmental by 60.1% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 1,209 shares of the company’s stock valued at $42,000 after acquiring an additional 454 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GFL shares. TheStreet raised shares of GFL Environmental from a “d+” rating to a “c” rating in a research note on Tuesday, February 20th. Royal Bank of Canada initiated coverage on shares of GFL Environmental in a research note on Monday, April 8th. They set an “outperform” rating and a $46.00 price target on the stock. Bank of America cut shares of GFL Environmental from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Friday, January 19th. BMO Capital Markets raised their target price on shares of GFL Environmental from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, Wells Fargo & Company raised their target price on shares of GFL Environmental from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and a consensus price target of $42.83.

GFL Environmental Trading Down 0.7 %

GFL stock traded down $0.24 during midday trading on Friday, reaching $32.05. 796,929 shares of the company’s stock traded hands, compared to its average volume of 851,074. The company has a market capitalization of $11.90 billion, a P/E ratio of -320.50 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.82. GFL Environmental Inc. has a fifty-two week low of $26.87 and a fifty-two week high of $39.06. The business has a 50-day moving average price of $34.54 and a two-hundred day moving average price of $32.69.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. GFL Environmental had a net margin of 0.64% and a return on equity of 4.96%. Equities research analysts forecast that GFL Environmental Inc. will post 0.8 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a dividend of $0.014 per share. The ex-dividend date is Friday, April 12th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.17%. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio (DPR) is currently -60.00%.

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.