GFL Environmental Inc. $GFL Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its position in shares of GFL Environmental Inc. (NYSE:GFL) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,297,510 shares of the company’s stock after selling 2,144,003 shares during the period. GFL Environmental accounts for approximately 24.3% of Ontario Teachers Pension Plan Board’s portfolio, making the stock its biggest holding. Ontario Teachers Pension Plan Board owned about 6.69% of GFL Environmental worth $1,150,633,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GFL. Berbice Capital Management LLC purchased a new position in shares of GFL Environmental during the second quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its position in GFL Environmental by 43.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares during the last quarter. Compass Financial Services Inc increased its stake in GFL Environmental by 63.0% in the second quarter. Compass Financial Services Inc now owns 820 shares of the company’s stock valued at $41,000 after purchasing an additional 317 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of GFL Environmental by 21.9% in the third quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock valued at $75,000 after buying an additional 289 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in shares of GFL Environmental in the third quarter valued at about $116,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GFL. Citigroup dropped their price target on GFL Environmental from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Royal Bank Of Canada boosted their target price on GFL Environmental from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. The Goldman Sachs Group began coverage on GFL Environmental in a report on Monday, November 24th. They set a “neutral” rating and a $50.00 price target for the company. Wells Fargo & Company began coverage on shares of GFL Environmental in a research note on Thursday, November 13th. They issued an “overweight” rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.67.

GFL Environmental Price Performance

Shares of NYSE GFL opened at $43.37 on Thursday. The firm has a market capitalization of $15.58 billion, a P/E ratio of 6.38, a PEG ratio of 3.29 and a beta of 0.88. GFL Environmental Inc. has a one year low of $40.83 and a one year high of $52.00. The company’s fifty day moving average is $43.15 and its two-hundred day moving average is $45.43. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.69 and a current ratio of 0.58.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.67 billion. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.58) EPS. Analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were paid a dividend of $0.0154 per share. The ex-dividend date of this dividend was Tuesday, January 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental’s payout ratio is 0.88%.

GFL Environmental Company Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.