Industrial Alliance Investment Management Inc. Increases Position in GFL Environmental Inc. (NYSE:GFL)

Industrial Alliance Investment Management Inc. grew its position in shares of GFL Environmental Inc. (NYSE:GFL – Get Rating) by 31.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 192,127 shares of the company’s stock after purchasing an additional 46,330 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in GFL Environmental were worth $4,859,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GFL. Advisor Group Holdings Inc. grew its holdings in shares of GFL Environmental by 49.7% during the first quarter. Advisor Group Holdings Inc. now owns 11,312 shares of the company’s stock valued at $368,000 after buying an additional 3,758 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of GFL Environmental by 11.3% during the first quarter. JPMorgan Chase & Co. now owns 474,113 shares of the company’s stock valued at $15,428,000 after buying an additional 47,959 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of GFL Environmental by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 168,448 shares of the company’s stock valued at $5,482,000 after buying an additional 3,132 shares during the last quarter. Citigroup Inc. grew its holdings in shares of GFL Environmental by 718.0% during the first quarter. Citigroup Inc. now owns 3,918 shares of the company’s stock valued at $128,000 after buying an additional 3,439 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of GFL Environmental by 67.9% during the first quarter. BlackRock Inc. now owns 4,132,297 shares of the company’s stock valued at $134,465,000 after buying an additional 1,670,653 shares during the last quarter. Hedge funds and other institutional investors own 63.25% of the company’s stock.

GFL Environmental Stock Down 0.9 %

GFL opened at $32.13 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.58. GFL Environmental Inc. has a 1-year low of $23.10 and a 1-year high of $34.16. The company has a market capitalization of $11.03 billion, a PE ratio of -40.16 and a beta of 1.17. The firm’s 50 day simple moving average is $31.22 and its two-hundred day simple moving average is $28.81.

GFL Environmental Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 31st. Shareholders of record on Wednesday, January 18th were given a $0.012 dividend. The ex-dividend date of this dividend was Tuesday, January 17th. This represents a $0.05 annualized dividend and a yield of 0.15%. GFL Environmental’s payout ratio is presently -6.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GFL shares. National Bank Financial reiterated an “outperfrom under weight” rating on shares of GFL Environmental in a report on Tuesday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $39.00 price objective on shares of GFL Environmental in a research report on Thursday, March 9th. JPMorgan Chase & Co. increased their price objective on shares of GFL Environmental from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, February 23rd. CIBC increased their price objective on shares of GFL Environmental from C$46.00 to C$50.00 in a research report on Wednesday, December 14th. Finally, TheStreet upgraded shares of GFL Environmental from a “d” rating to a “c-” rating in a research report on Thursday, March 2nd. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $41.05.

About GFL Environmental

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GFL Environmental Inc operates as a diversified environmental services company in Canada and the United States. The company offers non-hazardous solid waste management, infrastructure and soil remediation, and liquid waste management services. Its solid waste management business line includes the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste for municipal, residential, and commercial and industrial customers.