GFL Environmental Inc. (NYSE:GFL) Stock Position Raised by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lifted its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,316 shares of the company’s stock after purchasing an additional 526 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in GFL Environmental were worth $3,998,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GFL. Canada Pension Plan Investment Board lifted its stake in GFL Environmental by 5.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 539,906 shares of the company’s stock valued at $24,037,000 after buying an additional 30,000 shares in the last quarter. MSH Capital Advisors LLC acquired a new stake in shares of GFL Environmental during the fourth quarter valued at approximately $223,000. EAM Global Investors LLC purchased a new stake in shares of GFL Environmental in the 4th quarter valued at approximately $2,897,000. EAM Investors LLC acquired a new position in GFL Environmental in the 4th quarter worth approximately $1,215,000. Finally, Cohen & Steers Inc. purchased a new position in GFL Environmental during the 4th quarter worth approximately $51,505,000. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Stock Performance

Shares of GFL opened at $48.81 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a 12 month low of $30.57 and a 12 month high of $49.45. The company’s fifty day moving average is $46.90 and its 200-day moving average is $44.97. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of -36.70 and a beta of 1.09.

GFL Environmental (NYSE:GFL) last released its quarterly 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. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.98 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. Equities analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current fiscal 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 given a $0.0154 dividend. This is a positive change 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 dividend payout ratio (DPR) is currently -3.87%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Stifel Nicolaus upgraded GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 price objective on shares of GFL Environmental in a research note on Monday, February 24th. National Bankshares reaffirmed an “outperform” rating on shares of GFL Environmental in a research note on Tuesday, March 11th. UBS Group increased their price target on shares of GFL Environmental from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. Finally, Truist Financial raised their price target 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. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.00.

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.