Connor Clark & Lunn Investment Management Ltd. Has $37.02 Million Holdings in GFL Environmental Inc. $GFL

Key Points

• Connor Clark & Lunn Investment Management increased its stake in GFL Environmental by 8.8% to 781,168 shares, worth about $37.02 million (roughly 0.21% of the company) at quarter-end.
• GFL reported Q results with $0.26 EPS (beat) but revenues of $1.23 billion (below estimates); the stock trades around $43.25, and analysts have an average rating of "Moderate Buy" with a mean target of $56.67.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in GFL Environmental Inc. (NYSE:GFL - Free Report) by 8.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 781,168 shares of the company's stock after buying an additional 63,357 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.21% of GFL Environmental worth $37,015,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mackenzie Financial Corp lifted its holdings in shares of GFL Environmental by 2.9% during the third quarter. Mackenzie Financial Corp now owns 309,344 shares of the company's stock valued at $14,658,000 after acquiring an additional 8,746 shares during the period. Franklin Resources Inc. grew its holdings in shares of GFL Environmental by 68.6% in the 3rd quarter. Franklin Resources Inc. now owns 121,299 shares of the company's stock worth $5,747,000 after purchasing an additional 49,355 shares during the last quarter. Magnetar Financial LLC grew its holdings in shares of GFL Environmental by 766.4% in the 3rd quarter. Magnetar Financial LLC now owns 79,504 shares of the company's stock worth $3,767,000 after purchasing an additional 70,328 shares during the last quarter. Van ECK Associates Corp increased its position in shares of GFL Environmental by 19.3% during the 3rd quarter. Van ECK Associates Corp now owns 97,794 shares of the company's stock worth $4,633,000 after purchasing an additional 15,787 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of GFL Environmental by 7.8% during the 3rd quarter. Bank of Montreal Can now owns 1,535,406 shares of the company's stock worth $72,755,000 after purchasing an additional 111,714 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GFL shares. Barclays boosted their price target on shares of GFL Environmental from $62.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. lifted their target price on shares of GFL Environmental from $46.75 to $48.00 and gave the company a "neutral" rating in a research note on Wednesday, January 14th. Wells Fargo & Company began coverage on GFL Environmental in a report on Thursday, November 13th. They issued an "overweight" rating on the stock. Scotiabank decreased their price target on GFL Environmental from $57.00 to $56.00 and set a "sector outperform" rating on the stock in a research report on Thursday, February 12th. Finally, The Goldman Sachs Group started 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, GFL Environmental presently has an average rating of "Moderate Buy" and an average target price of $56.67.

GFL Environmental Trading Down 0.2%

GFL opened at $43.25 on Friday. GFL Environmental Inc. has a 1-year low of $40.83 and a 1-year high of $52.00. The stock has a market capitalization of $15.48 billion, a PE ratio of 6.36, a PEG ratio of 3.38 and a beta of 0.86. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $43.24 and a two-hundred day moving average price of $44.73.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.12. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the business earned ($0.58) earnings per share. GFL Environmental's quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Tuesday, January 13th were issued 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 yield of 0.1%. GFL Environmental's dividend payout ratio is currently 0.88%.

GFL Environmental 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.

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