GFL Environmental Inc. $GFL Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lowered its stake in GFL Environmental Inc. (NYSE:GFL) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,913,330 shares of the company’s stock after selling 198,095 shares during the period. Beutel Goodman & Co Ltd.’s holdings in GFL Environmental were worth $297,898,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GFL. Vanguard Group Inc. increased its stake in shares of GFL Environmental by 1.7% during the first quarter. Vanguard Group Inc. now owns 8,843,436 shares of the company’s stock worth $427,166,000 after acquiring an additional 146,256 shares during the period. JPMorgan Chase & Co. lifted its position in GFL Environmental by 11.8% in the second quarter. JPMorgan Chase & Co. now owns 994,849 shares of the company’s stock valued at $50,200,000 after purchasing an additional 105,186 shares during the period. S&CO Inc. boosted its holdings in GFL Environmental by 86.6% in the 2nd quarter. S&CO Inc. now owns 114,260 shares of the company’s stock valued at $5,765,000 after purchasing an additional 53,030 shares in the last quarter. Aviva PLC purchased a new stake in GFL Environmental in the 2nd quarter valued at approximately $6,361,000. Finally, Intech Investment Management LLC acquired a new position in GFL Environmental during the 2nd quarter worth approximately $457,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GFL. Citigroup raised their price target on GFL Environmental from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. The Goldman Sachs Group assumed coverage on GFL Environmental in a report on Monday, November 24th. They issued a “neutral” rating and a $50.00 target price for the company. Wells Fargo & Company initiated coverage on shares of GFL Environmental in a research note on Thursday, November 13th. They set an “overweight” rating on the stock. Raymond James Financial set a $57.00 price target on shares of GFL Environmental and gave the company an “outperform” rating in a report on Monday, October 6th. Finally, Scotiabank set a $58.00 price objective on shares of GFL Environmental in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $57.08.

GFL Environmental Price Performance

GFL stock opened at $44.66 on Friday. The stock’s 50 day moving average price is $45.14 and its 200 day moving average price is $47.62. The firm has a market cap of $16.23 billion, a P/E ratio of 7.00 and a beta of 0.89. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.69. GFL Environmental Inc. has a 1 year low of $41.29 and a 1 year high of $52.00.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.69 billion. GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. On average, sell-side analysts expect that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th were issued a dividend of $0.0154 per share. The ex-dividend date was Wednesday, October 15th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. GFL Environmental’s payout ratio is 0.94%.

About GFL Environmental

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.