1,071,792 Shares of GFL Environmental Inc. $GFL Purchased by QV Investors Inc.

QV Investors Inc. purchased a new position in shares of GFL Environmental Inc. (NYSE:GFL) in the third quarter, HoldingsChannel reports. The institutional investor purchased 1,071,792 shares of the company’s stock, valued at approximately $44,887,000. GFL Environmental accounts for 3.3% of QV Investors Inc.’s investment portfolio, making the stock its 10th biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GFL. Bank of America Corp DE boosted its holdings in GFL Environmental by 43.8% during the first quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock valued at $77,064,000 after purchasing an additional 563,001 shares in the last quarter. Verbena Value LP raised its holdings in shares of GFL Environmental by 44.7% in the 1st quarter. Verbena Value LP now owns 1,211,100 shares of the company’s stock worth $50,527,000 after buying an additional 374,000 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of GFL Environmental by 68.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,158,643 shares of the company’s stock worth $48,309,000 after buying an additional 471,935 shares in the last quarter. Advent International L.P. lifted its position in shares of GFL Environmental by 117.1% during the 1st quarter. Advent International L.P. now owns 823,010 shares of the company’s stock worth $34,336,000 after buying an additional 443,918 shares during the period. Finally, Swiss National Bank lifted its position in shares of GFL Environmental by 26.0% during the 1st quarter. Swiss National Bank now owns 815,500 shares of the company’s stock worth $33,969,000 after buying an additional 168,200 shares during the period. Institutional investors own 64.70% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on GFL shares. Barclays assumed coverage on GFL Environmental in a research note on Wednesday, September 2nd. They issued an “overweight” rating and a $58.00 price target on the stock. Wolfe Research initiated coverage on GFL Environmental in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $77.00 price target on the stock. TD Cowen reiterated a “buy” rating and set a $65.00 price objective on shares of GFL Environmental in a research note on Friday, September 11th. Weiss Ratings raised GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. lifted their price objective on GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, July 16th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.44.

GFL Environmental Price Performance

NYSE:GFL opened at $44.43 on Wednesday. The firm has a market cap of $16.03 billion, a PE ratio of -83.83, a price-to-earnings-growth ratio of 3.43 and a beta of 0.72. GFL Environmental Inc. has a 12 month low of $33.33 and a 12 month high of $47.01. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.34. The company’s 50-day moving average price is $42.23 and its two-hundred day moving average price is $39.79.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.03). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.33 billion. GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%. GFL Environmental’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 earnings per share. On average, equities analysts anticipate that GFL Environmental Inc. will post 0.55 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be issued a $0.0169 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 14th. GFL Environmental’s payout ratio is presently -13.21%.

GFL Environmental Profile

GFL Environmental Inc is a Canadian environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste, as well as organics and other resource-recovery services.

GFL also provides infrastructure and soil remediation services, including the management of contaminated materials and related environmental projects.