CI Investments Inc. Has $12.27 Million Stock Holdings in GFL Environmental Inc. $GFL

CI Investments Inc. trimmed its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 11.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 294,148 shares of the company’s stock after selling 38,340 shares during the period. CI Investments Inc.’s holdings in GFL Environmental were worth $12,272,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in GFL. Norges Bank bought a new stake in GFL Environmental in the fourth quarter valued at about $149,466,000. Maverick Capital Ltd. lifted its stake in GFL Environmental by 216.5% during the fourth quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company’s stock worth $215,761,000 after purchasing an additional 3,436,419 shares during the period. Capital Research Global Investors lifted its stake in GFL Environmental by 17.6% during the fourth quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock worth $939,043,000 after purchasing an additional 3,267,936 shares during the period. UBS Group AG boosted its holdings in GFL Environmental by 203.9% during the third quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock valued at $92,224,000 after purchasing an additional 1,305,953 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in GFL Environmental by 11,121.4% during the fourth quarter. AQR Capital Management LLC now owns 1,181,049 shares of the company’s stock valued at $50,735,000 after purchasing an additional 1,170,524 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GFL. Citigroup set a $51.00 target price on GFL Environmental and gave the stock a “buy” rating in a report on Monday, July 6th. JPMorgan Chase & Co. boosted their price target on GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. Scotiabank dropped their price objective on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, May 4th. Zacks Research lowered GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.89.

GFL Environmental Price Performance

GFL Environmental stock opened at $39.11 on Thursday. The business’s fifty day moving average is $36.92 and its two-hundred day moving average is $40.19. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market cap of $14.03 billion, a P/E ratio of 122.23, a P/E/G ratio of 2.91 and a beta of 0.70. GFL Environmental Inc. has a 52 week low of $33.33 and a 52 week high of $51.51.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) earnings per share. Equities research analysts forecast that GFL Environmental Inc. will post 0.56 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be paid a $0.0169 dividend. The ex-dividend date of this dividend is Monday, July 13th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. GFL Environmental’s payout ratio is currently 21.88%.

GFL Environmental 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.