Ontario Teachers Pension Plan Board Sells 2,144,003 Shares of GFL Environmental Inc. $GFL

Ontario Teachers Pension Plan Board reduced its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 8.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 24,297,510 shares of the company’s stock after selling 2,144,003 shares during the period. GFL Environmental accounts for approximately 24.3% of Ontario Teachers Pension Plan Board’s investment portfolio, making the stock its largest holding. Ontario Teachers Pension Plan Board owned approximately 0.07% of GFL Environmental worth $1,150,633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Berbice Capital Management LLC acquired a new stake in shares of GFL Environmental in the second quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted its stake in GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after buying an additional 219 shares in the last quarter. Compass Financial Services Inc grew its holdings in GFL Environmental by 63.0% during the 2nd quarter. Compass Financial Services Inc now owns 820 shares of the company’s stock valued at $41,000 after buying an additional 317 shares during the last quarter. Jones Financial Companies Lllp increased its position in GFL Environmental by 21.9% during the third quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock worth $75,000 after buying an additional 289 shares in the last quarter. Finally, First Horizon Corp acquired a new position in shares of GFL Environmental in the third quarter worth $116,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Trading Up 0.2%

GFL stock opened at $43.37 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.58 and a debt-to-equity ratio of 1.05. The company has a market cap of $15.58 billion, a price-to-earnings ratio of 6.38, a PEG ratio of 3.29 and a beta of 0.88. The business has a fifty day simple moving average of $43.15 and a 200-day simple moving average of $45.43. GFL Environmental Inc. has a 52 week low of $40.83 and a 52 week high of $52.00.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.67 billion. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.58) earnings per share. On average, equities research analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, January 13th were given a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, January 13th. GFL Environmental’s dividend payout ratio is 0.88%.

Wall Street Analyst Weigh In

GFL has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. The Goldman Sachs Group assumed coverage on shares of GFL Environmental in a research report on Monday, November 24th. They set a “neutral” rating and a $50.00 target price on the stock. Barclays boosted their price target on GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Weiss Ratings cut GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 9th. Finally, Citigroup lowered their price objective on GFL Environmental from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.67.

GFL Environmental Company Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.