Intact Investment Management Inc. Sells 237,759 Shares of GFL Environmental Inc. (NYSE:GFL)

Intact Investment Management Inc. reduced its stake in GFL Environmental Inc. (NYSE:GFL) by 50.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,716 shares of the company’s stock after selling 237,759 shares during the period. Intact Investment Management Inc. owned 0.06% of GFL Environmental worth $8,097,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its stake in shares of GFL Environmental by 55.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 12,543,970 shares of the company’s stock valued at $398,396,000 after purchasing an additional 4,490,164 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of GFL Environmental by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 7,384,983 shares of the company’s stock worth $256,259,000 after acquiring an additional 1,053,530 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of GFL Environmental by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 7,154,314 shares of the company’s stock worth $227,221,000 after acquiring an additional 140,719 shares during the last quarter. Fred Alger Management LLC boosted its stake in shares of GFL Environmental by 6.2% during the 3rd quarter. Fred Alger Management LLC now owns 6,050,953 shares of the company’s stock worth $192,178,000 after acquiring an additional 355,191 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of GFL Environmental by 4.5% during the 3rd quarter. Royal Bank of Canada now owns 5,498,322 shares of the company’s stock worth $174,628,000 after acquiring an additional 235,405 shares during the last quarter. 64.70% of the stock is owned by institutional investors.

GFL Environmental Stock Performance

Shares of NYSE GFL traded down $0.24 during midday trading on Friday, reaching $32.05. The company had a trading volume of 796,929 shares, compared to its average volume of 851,074. The business’s 50-day simple moving average is $34.54 and its 200 day simple moving average is $32.69. The stock has a market cap of $11.90 billion, a P/E ratio of -320.50 and a beta of 1.13. GFL Environmental Inc. has a 1 year low of $26.87 and a 1 year high of $39.06. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.25.

GFL Environmental (NYSE:GFL) last issued its earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). GFL Environmental had a return on equity of 4.96% and a net margin of 0.64%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. On average, analysts forecast that GFL Environmental Inc. will post 0.8 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 0.17%. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Friday, April 12th. GFL Environmental’s dividend payout ratio is presently -60.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GFL. Bank of America downgraded shares of GFL Environmental from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research report on Friday, January 19th. Wells Fargo & Company raised their price objective on shares of GFL Environmental from $30.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. BMO Capital Markets raised their price objective on shares of GFL Environmental from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. UBS Group began coverage on shares of GFL Environmental in a research report on Wednesday, January 31st. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Jefferies Financial Group lifted their price target on shares of GFL Environmental from $46.00 to $51.00 and gave the company a “buy” rating in a report on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, GFL Environmental has a consensus rating of “Moderate Buy” and an average price target of $42.83.

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.