CIBC Asset Management Inc Buys 41,865 Shares of GFL Environmental Inc. (NYSE:GFL)

CIBC Asset Management Inc grew its holdings in GFL Environmental Inc. (NYSE:GFL) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,309,817 shares of the company’s stock after purchasing an additional 41,865 shares during the period. CIBC Asset Management Inc owned approximately 0.67% of GFL Environmental worth $79,566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GFL. Money Concepts Capital Corp bought a new stake in shares of GFL Environmental in the fourth quarter valued at approximately $41,000. BNP Paribas Arbitrage SNC bought a new stake in shares of GFL Environmental in the third quarter valued at approximately $70,000. Rockefeller Capital Management L.P. raised its position in shares of GFL Environmental by 830.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,276 shares of the company’s stock valued at $95,000 after purchasing an additional 2,924 shares during the period. Cutler Group LLC CA bought a new stake in shares of GFL Environmental in the fourth quarter valued at approximately $98,000. Finally, Allianz Asset Management GmbH bought a new stake in shares of GFL Environmental in the first quarter valued at approximately $119,000. Institutional investors own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GFL shares. TheStreet lowered shares of GFL Environmental from a “c-” rating to a “d+” rating in a research report on Monday, August 7th. TD Securities boosted their price objective on shares of GFL Environmental from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Finally, Raymond James boosted their price objective on shares of GFL Environmental from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, July 21st. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $42.75.

GFL Environmental Price Performance

GFL stock traded up $0.05 during midday trading on Monday, reaching $32.45. The company had a trading volume of 1,308,900 shares, compared to its average volume of 1,258,861. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.77 and a quick ratio of 0.77. GFL Environmental Inc. has a 1 year low of $23.10 and a 1 year high of $39.06. The company has a market capitalization of $11.98 billion, a P/E ratio of -37.73 and a beta of 1.17. The firm has a 50-day moving average price of $35.31 and a 200-day moving average price of $34.95.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. GFL Environmental had a negative net margin of 4.44% and a positive return on equity of 4.38%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. On average, research analysts anticipate that GFL Environmental Inc. will post 0.88 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 17th were paid a $0.013 dividend. The ex-dividend date of this dividend was Friday, July 14th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.16%. GFL Environmental’s dividend payout ratio (DPR) is -5.81%.

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.