GFL Environmental Inc. $GFL Shares Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its GFL Environmental stake by 29.1% in the third quarter, acquiring 84,555 additional shares for a total holding of 374,906 shares valued at approximately $15.2 million. Institutional investors collectively own 64.7% of the company.
• Analyst sentiment remains favorable, with GFL receiving a “Moderate Buy” consensus rating and an average price target of $57.44. Recent targets range from $58 to $77 per share.
• GFL reported quarterly revenue of $1.37 billion, up 16.3% year over year, but missed earnings expectations with EPS of $0.14 versus $0.17 forecast. The company also announced a quarterly dividend of $0.0169 per share, representing a 0.2% annualized yield.

TD Waterhouse Canada Inc. grew its holdings in GFL Environmental Inc. (NYSE:GFL - Free Report) by 29.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 374,906 shares of the company's stock after acquiring an additional 84,555 shares during the period. TD Waterhouse Canada Inc. owned about 0.10% of GFL Environmental worth $15,182,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

GFL has been the topic of a number of recent research reports. TD Cowen restated a "buy" rating and set a $65.00 price objective on shares of GFL Environmental in a research note on Friday, September 11th. Wolfe Research began coverage on GFL Environmental in a research note on Tuesday, September 15th. They issued an "outperform" rating and a $77.00 target price for the company. BMO Capital Markets reiterated a "market perform" rating on shares of GFL Environmental in a report on Thursday. Barclays initiated coverage on GFL Environmental in a report on Wednesday, September 2nd. They set an "overweight" rating and a $58.00 target price on the stock. Finally, Weiss Ratings raised GFL Environmental from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, August 26th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $57.44.

GFL Environmental Price Performance

Shares of GFL stock opened at $43.86 on Monday. The firm has a fifty day simple moving average of $42.10 and a 200-day simple moving average of $39.76. The company has a market capitalization of $15.83 billion, a PE ratio of -82.76, a price-to-earnings-growth ratio of 3.37 and a beta of 0.72. GFL Environmental Inc. has a twelve month low of $33.33 and a twelve month high of $47.01. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.33 billion. During the same period last year, the firm earned $0.26 EPS. The business's quarterly revenue was up 16.3% on a year-over-year basis. Equities research analysts anticipate that GFL Environmental Inc. will post 0.55 earnings per share 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 paid a dividend of $0.0169 per share. The ex-dividend date is Wednesday, October 14th. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. GFL Environmental's dividend payout ratio (DPR) is currently -13.21%.

GFL Environmental Company 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.

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