TD Asset Management Inc Trims Holdings in GFL Environmental Inc. $GFL

TD Asset Management Inc trimmed its stake in GFL Environmental Inc. (NYSE:GFL) by 5.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,014,170 shares of the company’s stock after selling 63,931 shares during the period. TD Asset Management Inc owned about 0.28% of GFL Environmental worth $43,622,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GFL. Norges Bank purchased a new stake in shares of GFL Environmental in the 4th quarter valued at approximately $149,466,000. Nordea Investment Management AB increased its stake in GFL Environmental by 40.8% during the 4th quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock worth $290,083,000 after buying an additional 1,932,442 shares during the period. UBS Group AG increased its stake in GFL Environmental by 203.9% during the 3rd quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock worth $92,224,000 after buying an additional 1,305,953 shares during the period. American Century Companies Inc. increased its stake in GFL Environmental by 25.5% during the 3rd quarter. American Century Companies Inc. now owns 6,023,139 shares of the company’s stock worth $285,377,000 after buying an additional 1,225,108 shares during the period. Finally, CIBC Asset Management Inc increased its stake in GFL Environmental by 25.8% during the 4th quarter. CIBC Asset Management Inc now owns 5,101,264 shares of the company’s stock worth $219,360,000 after buying an additional 1,047,180 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Trading Down 0.8%

NYSE GFL opened at $35.50 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32. GFL Environmental Inc. has a 52 week low of $33.33 and a 52 week high of $51.51. The stock has a market capitalization of $12.73 billion, a PE ratio of 110.94, a price-to-earnings-growth ratio of 2.76 and a beta of 0.71. The firm has a 50 day moving average of $38.61 and a two-hundred day moving average of $41.77.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the business posted ($0.09) EPS. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, research analysts expect that GFL Environmental Inc. will post 0.54 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were issued a $0.0169 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, April 13th. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s dividend payout ratio (DPR) is currently 21.88%.

Analysts Set New Price Targets

GFL has been the topic of several recent research reports. Citigroup cut their target price on shares of GFL Environmental from $55.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. JPMorgan Chase & Co. downgraded shares of GFL Environmental from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $49.00 to $42.00 in a research note on Tuesday, April 14th. Wolfe Research initiated coverage on shares of GFL Environmental in a research note on Friday, March 13th. They set an “outperform” rating on the stock. Weiss Ratings downgraded shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Finally, Royal Bank Of Canada upped their target price on shares of GFL Environmental from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

About GFL Environmental

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.