The Manufacturers Life Insurance Company Raises Stake in GFL Environmental Inc. (NYSE:GFL)

The Manufacturers Life Insurance Company grew its holdings in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 664,887 shares of the company's stock after buying an additional 43,500 shares during the period. The Manufacturers Life Insurance Company owned 0.17% of GFL Environmental worth $29,679,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. boosted its stake in GFL Environmental by 124.9% during the fourth quarter. Blue Trust Inc. now owns 551 shares of the company's stock worth $25,000 after acquiring an additional 306 shares in the last quarter. Berbice Capital Management LLC purchased a new position in shares of GFL Environmental during the fourth quarter valued at approximately $27,000. Natixis bought a new stake in shares of GFL Environmental in the 4th quarter worth approximately $49,000. SRH Advisors LLC purchased a new stake in shares of GFL Environmental in the 4th quarter worth approximately $89,000. Finally, Steward Partners Investment Advisory LLC increased its position in GFL Environmental by 350.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company's stock valued at $107,000 after buying an additional 1,867 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GFL shares. Raymond James reissued an "outperform" rating and issued a $57.00 target price (up from $56.00) on shares of GFL Environmental in a research note on Friday. Royal Bank of Canada raised their price objective on shares of GFL Environmental from $53.00 to $56.00 and gave the company an "outperform" rating in a research note on Monday. UBS Group lifted their target price on shares of GFL Environmental from $50.00 to $57.00 and gave the stock a "buy" rating in a report on Friday, April 4th. National Bankshares reiterated an "outperform" rating on shares of GFL Environmental in a report on Tuesday, March 11th. Finally, Citigroup decreased their price objective on shares of GFL Environmental from $56.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.75.

GFL Environmental Stock Performance

Shares of NYSE GFL traded up $1.16 during midday trading on Monday, hitting $51.56. 1,376,508 shares of the stock traded hands, compared to its average volume of 1,474,821. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. GFL Environmental Inc. has a one year low of $30.57 and a one year high of $51.99. The firm has a market capitalization of $20.28 billion, a P/E ratio of -38.77 and a beta of 1.08. The firm has a 50-day moving average of $47.34 and a two-hundred day moving average of $45.40.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.10). GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.52 billion. The business's quarterly revenue was down 13.4% on a year-over-year basis. On average, equities analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th were paid a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. This is a boost from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's dividend payout ratio (DPR) is currently 1.23%.

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.