Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in GFL Environmental Inc. (NYSE:GFL)

Connor Clark & Lunn Investment Management Ltd. increased its position in GFL Environmental Inc. (NYSE:GFL) by 15.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,292,419 shares of the company’s stock after purchasing an additional 169,437 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in GFL Environmental were worth $57,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its stake in GFL Environmental by 124.9% during the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after acquiring an additional 306 shares during the last quarter. Berbice Capital Management LLC bought a new position in GFL Environmental during the 4th quarter valued at $27,000. Continuum Advisory LLC boosted its stake in GFL Environmental by 60.6% during the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock valued at $29,000 after acquiring an additional 254 shares during the last quarter. Avior Wealth Management LLC bought a new position in GFL Environmental during the 3rd quarter valued at $82,000. Finally, SRH Advisors LLC bought a new position in GFL Environmental during the 4th quarter valued at $89,000. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on GFL. Scotiabank increased their price objective on shares of GFL Environmental from $50.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Wednesday, March 5th. Stifel Nicolaus upgraded shares of GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. National Bankshares reissued an “outperform” rating on shares of GFL Environmental in a report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $53.00 target price on shares of GFL Environmental in a report on Monday, February 24th. Finally, Citigroup started coverage on shares of GFL Environmental in a report on Monday, January 27th. They set a “buy” rating and a $53.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.78.

GFL Environmental Stock Down 0.5 %

GFL stock opened at $46.06 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a fifty-two week low of $30.57 and a fifty-two week high of $48.87. The firm’s 50-day simple moving average is $44.69 and its 200 day simple moving average is $43.45. The stock has a market cap of $18.12 billion, a PE ratio of -34.63 and a beta of 1.16.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.98 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. As a group, sell-side analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 13th were paid a dividend of $0.014 per share. The ex-dividend date of this dividend was Monday, January 13th. This represents a $0.06 annualized dividend and a yield of 0.12%. GFL Environmental’s payout ratio is -3.23%.

GFL Environmental 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.