TD Asset Management Inc Grows Holdings in GFL Environmental Inc. (NYSE:GFL)

Key Points

• TD Asset Management Inc. increased its stake in GFL Environmental Inc. by 19%, acquiring 212,844 shares and owning about 1,330,765 shares worth $64.27 million as of the last reporting period.
• GFL Environmental reported a quarterly revenue of $1.08 billion, missing the consensus estimate of $1.52 billion, and had an earnings per share (EPS) of -$0.06 for the quarter.
• Several analysts have raised their price targets for GFL Environmental, with the consensus price target now set at $56.29, while maintaining an average rating of "Buy" for the stock.

TD Asset Management Inc increased its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 19.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,330,765 shares of the company's stock after buying an additional 212,844 shares during the period. TD Asset Management Inc owned about 0.34% of GFL Environmental worth $64,271,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC increased its holdings in GFL Environmental by 147.8% during the first quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock worth $27,000 after buying an additional 334 shares during the last quarter. Bessemer Group Inc. purchased a new stake in GFL Environmental during the first quarter worth about $28,000. LRI Investments LLC purchased a new stake in GFL Environmental during the first quarter worth about $34,000. Natixis purchased a new stake in GFL Environmental during the fourth quarter worth about $49,000. Finally, Harbor Investment Advisory LLC purchased a new stake in GFL Environmental during the first quarter worth about $53,000. Hedge funds and other institutional investors own 64.70% of the company's stock.

GFL Environmental Price Performance

Shares of GFL stock traded up $2.34 during trading hours on Thursday, reaching $49.94. The stock had a trading volume of 1,245,992 shares, compared to its average volume of 1,680,572. The stock's fifty day simple moving average is $48.93 and its 200 day simple moving average is $47.44. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.89. GFL Environmental Inc. has a 12 month low of $37.00 and a 12 month high of $52.00. The firm has a market capitalization of $18.31 billion, a PE ratio of 10.24 and a beta of 1.03.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.10). GFL Environmental had a net margin of 36.01% and a return on equity of 3.93%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.52 billion. The business's quarterly revenue was down 13.4% compared to the same quarter last year. On average, equities research analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 14th will be given a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. GFL Environmental's dividend payout ratio (DPR) is currently 1.23%.

Analysts Set New Price Targets

GFL has been the subject of several recent research reports. Truist Financial lifted their target price on shares of GFL Environmental from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday, April 2nd. Royal Bank Of Canada lifted their target price on shares of GFL Environmental from $53.00 to $56.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. National Bank Financial upgraded shares of GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. Scotiabank reiterated an "outperform" rating on shares of GFL Environmental in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. initiated coverage on shares of GFL Environmental in a research note on Friday, May 23rd. They issued a "neutral" rating and a $54.00 target price for the company. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, GFL Environmental presently has a consensus rating of "Buy" and a consensus target price of $56.29.

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.