PCJ Investment Counsel Ltd. Reduces Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

PCJ Investment Counsel Ltd. decreased its position in GFL Environmental Inc. (NYSE:GFL) by 66.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,780 shares of the company’s stock after selling 58,570 shares during the period. PCJ Investment Counsel Ltd.’s holdings in GFL Environmental were worth $1,326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its holdings in GFL Environmental by 124.9% during the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after acquiring an additional 306 shares during the period. Berbice Capital Management LLC bought a new stake in GFL Environmental during the 4th quarter valued at $27,000. Continuum Advisory LLC raised its holdings in GFL Environmental by 60.6% during the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock valued at $29,000 after acquiring an additional 254 shares during the period. Avior Wealth Management LLC bought a new stake in GFL Environmental during the 3rd quarter valued at $82,000. Finally, SRH Advisors LLC bought a new position in shares of GFL Environmental in the fourth quarter worth $89,000. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Price Performance

Shares of NYSE GFL opened at $46.97 on Friday. The company has a market capitalization of $18.48 billion, a price-to-earnings ratio of -35.32 and a beta of 1.16. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The company has a 50 day simple moving average of $44.58 and a two-hundred day simple moving average of $43.36. GFL Environmental Inc. has a fifty-two week low of $30.57 and a fifty-two week high of $48.87.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 13th were issued a $0.014 dividend. The ex-dividend date was Monday, January 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. GFL Environmental’s dividend payout ratio is currently -3.23%.

Analysts Set New Price Targets

GFL has been the topic of several research analyst reports. Truist Financial upped their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Stifel Nicolaus raised shares of GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 target price on shares of GFL Environmental in a research note on Monday, February 24th. Raymond James increased their target price on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Citigroup assumed coverage on GFL Environmental in a research note on Monday, January 27th. They issued a “buy” rating and a $53.00 target price on the stock. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, GFL Environmental currently has a consensus rating of “Moderate Buy” and an average price target of $49.78.

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.