Addenda Capital Inc. Sells 12,605 Shares of GFL Environmental Inc. (NYSE:GFL)

Addenda Capital Inc. reduced its position in shares of GFL Environmental Inc. (NYSE:GFL) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 292,980 shares of the company’s stock after selling 12,605 shares during the period. Addenda Capital Inc. owned about 0.08% of GFL Environmental worth $10,108,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings in GFL Environmental by 5.8% in the third quarter. HighTower Advisors LLC now owns 18,217 shares of the company’s stock worth $579,000 after purchasing an additional 1,003 shares during the period. Envestnet Asset Management Inc. grew its holdings in GFL Environmental by 29.3% in the third quarter. Envestnet Asset Management Inc. now owns 114,958 shares of the company’s stock worth $3,651,000 after purchasing an additional 26,028 shares during the period. Mariner LLC grew its holdings in GFL Environmental by 1.4% in the third quarter. Mariner LLC now owns 80,855 shares of the company’s stock worth $2,568,000 after purchasing an additional 1,083 shares during the period. Stifel Financial Corp grew its holdings in GFL Environmental by 13.9% in the third quarter. Stifel Financial Corp now owns 68,430 shares of the company’s stock worth $2,173,000 after purchasing an additional 8,365 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in GFL Environmental by 2,448.5% in the third quarter. Tower Research Capital LLC TRC now owns 12,284 shares of the company’s stock worth $390,000 after purchasing an additional 11,802 shares during the period. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Price Performance

Shares of NYSE GFL traded up $0.07 during mid-day trading on Friday, hitting $38.93. 1,206,676 shares of the company’s stock traded hands, compared to its average volume of 1,260,747. The company’s 50-day moving average is $34.24 and its two-hundred day moving average is $34.21. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $14.65 billion, a P/E ratio of 60.00 and a beta of 1.13. GFL Environmental Inc. has a 1 year low of $26.87 and a 1 year high of $40.27.

GFL Environmental Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a $0.014 dividend. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Friday, April 12th.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. TD Cowen upped their target price on GFL Environmental from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, May 6th. Jefferies Financial Group upped their target price on GFL Environmental from $46.00 to $51.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Royal Bank of Canada assumed coverage on GFL Environmental in a report on Monday, April 8th. They issued an “outperform” rating and a $46.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.08.

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.