GFL Environmental Inc. (NYSE:GFL) Shares Purchased by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in GFL Environmental Inc. by 20.6% in Q1, now holding 278,948 shares valued at approximately $13.47 million.
• GFL reported a net loss of $0.06 EPS for the last quarter, significantly missing the consensus estimate of $0.04, while revenue dropped 13.4% year-over-year.
• The company announced a quarterly dividend of $0.0154, with a low annual yield of 0.13%, reflecting a payout ratio of 1.23%.

Mackenzie Financial Corp raised its position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 20.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,948 shares of the company's stock after buying an additional 47,600 shares during the quarter. Mackenzie Financial Corp owned about 0.07% of GFL Environmental worth $13,473,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Capital Research Global Investors raised its stake in shares of GFL Environmental by 11.4% in the fourth quarter. Capital Research Global Investors now owns 26,973,784 shares of the company's stock valued at $1,201,406,000 after acquiring an additional 2,751,618 shares during the period. FMR LLC raised its stake in shares of GFL Environmental by 10.0% during the fourth quarter. FMR LLC now owns 27,664,678 shares of the company's stock valued at $1,233,223,000 after acquiring an additional 2,506,021 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of GFL Environmental in the fourth quarter valued at approximately $93,343,000. Cohen & Steers Inc. bought a new position in GFL Environmental in the fourth quarter worth approximately $51,505,000. Finally, Paralel Advisors LLC purchased a new position in GFL Environmental during the 4th quarter worth $44,540,000. Institutional investors own 64.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GFL. National Bank Financial raised shares of GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. Truist Financial lifted their price objective on shares of GFL Environmental from $58.00 to $60.00 and gave the company a "buy" rating in a report on Friday. JPMorgan Chase & Co. initiated coverage on GFL Environmental in a report on Friday, May 23rd. They set a "neutral" rating and a $54.00 target price for the company. Royal Bank Of Canada boosted their price target on GFL Environmental from $56.00 to $59.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Seaport Res Ptn upgraded GFL Environmental to a "strong-buy" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, GFL Environmental currently has an average rating of "Buy" and a consensus price target of $57.57.

GFL Environmental Stock Down 1.0%

GFL stock traded down $0.51 on Friday, hitting $49.83. 1,309,113 shares of the company's stock were exchanged, compared to its average volume of 1,121,947. The firm has a 50 day moving average price of $48.96 and a two-hundred day moving average price of $47.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.82 and a current ratio of 0.67. GFL Environmental Inc. has a 12-month low of $37.58 and a 12-month high of $52.00. The stock has a market cap of $18.27 billion, a P/E ratio of 7.85 and a beta of 1.00.

GFL Environmental (NYSE:GFL - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, hitting analysts' consensus estimates of $0.19. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.68 billion. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. GFL Environmental's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. As a group, equities research analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 14th were issued a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. GFL Environmental's dividend payout ratio is presently 0.94%.

GFL Environmental Company 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.