GFL Environmental Inc. (NYSE:GFL) Holdings Trimmed by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in GFL Environmental Inc. (NYSE:GFL) by 4.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,122,982 shares of the company’s stock after selling 52,618 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in GFL Environmental were worth $44,791,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Intech Investment Management LLC acquired a new position in GFL Environmental during the first quarter valued at $342,000. Vanguard Group Inc. boosted its position in GFL Environmental by 9.4% during the 1st quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock worth $273,053,000 after acquiring an additional 683,120 shares during the period. UniSuper Management Pty Ltd grew its stake in GFL Environmental by 63.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,100 shares of the company’s stock valued at $107,000 after acquiring an additional 1,200 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of GFL Environmental by 36.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 79,721 shares of the company’s stock valued at $2,746,000 after purchasing an additional 21,254 shares during the period. Finally, Toronto Dominion Bank increased its holdings in shares of GFL Environmental by 33.8% in the 1st quarter. Toronto Dominion Bank now owns 74,152 shares of the company’s stock valued at $2,558,000 after purchasing an additional 18,742 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Raymond James raised their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Truist Financial lifted their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 8th. UBS Group upped their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Scotiabank boosted their target price on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.80.

GFL Environmental Stock Performance

GFL opened at $45.59 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market cap of $17.17 billion, a PE ratio of -34.28 and a beta of 1.15. The stock has a 50-day moving average of $41.32 and a 200-day moving average of $39.02. GFL Environmental Inc. has a 52-week low of $26.87 and a 52-week high of $46.48.

GFL Environmental (NYSE:GFL) last posted its 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 firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. As a group, equities research analysts forecast that GFL Environmental Inc. will post 0.6 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s dividend payout ratio is currently -4.51%.

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.