Cohen & Steers Inc. Takes Position in GFL Environmental Inc. (NYSE:GFL)

Cohen & Steers Inc. acquired a new stake in GFL Environmental Inc. (NYSE:GFL) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,156,375 shares of the company’s stock, valued at approximately $51,505,000. Cohen & Steers Inc. owned approximately 0.29% of GFL Environmental at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of GFL Environmental in the fourth quarter worth about $126,420,000. FMR LLC raised its holdings in shares of GFL Environmental by 10.0% during the 4th quarter. FMR LLC now owns 27,664,678 shares of the company’s stock worth $1,233,223,000 after acquiring an additional 2,506,021 shares in the last quarter. Paralel Advisors LLC bought a new position in GFL Environmental during the fourth quarter valued at $44,540,000. American Century Companies Inc. increased its stake in GFL Environmental by 40.4% during the fourth quarter. American Century Companies Inc. now owns 2,412,639 shares of the company’s stock worth $107,459,000 after acquiring an additional 693,884 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in GFL Environmental during the 4th quarter valued at $18,836,000. 64.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GFL shares. Stifel Nicolaus upgraded shares of GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Truist Financial boosted their target price on shares of GFL Environmental from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. Citigroup dropped their target price on GFL Environmental from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $53.00 price target on shares of GFL Environmental in a report on Monday, February 24th. Finally, Scotiabank upped their target price on GFL Environmental from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, GFL Environmental currently has an average rating of “Moderate Buy” and an average price target of $51.25.

GFL Environmental Price Performance

Shares of GFL opened at $48.29 on Monday. The firm has a fifty day moving average price of $46.49 and a 200 day moving average price of $44.51. The stock has a market cap of $18.99 billion, a PE ratio of -36.30 and a beta of 1.09. 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 1-year low of $30.57 and a 1-year high of $49.35.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.98 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. As a group, sell-side analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be issued a dividend of $0.0154 per share. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. GFL Environmental’s payout ratio is -3.87%.

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.