The Manufacturers Life Insurance Company Sells 137,192 Shares of GFL Environmental Inc. (NYSE:GFL)

The Manufacturers Life Insurance Company reduced its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 18.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 618,858 shares of the company’s stock after selling 137,192 shares during the period. The Manufacturers Life Insurance Company owned about 0.16% of GFL Environmental worth $24,067,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital Research Global Investors raised its position in GFL Environmental by 17.4% in the 1st quarter. Capital Research Global Investors now owns 19,851,514 shares of the company’s stock valued at $684,877,000 after buying an additional 2,935,811 shares during the last quarter. Millennium Management LLC grew its stake in shares of GFL Environmental by 40.0% in the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after acquiring an additional 1,614,182 shares in the last quarter. Findlay Park Partners LLP purchased a new stake in shares of GFL Environmental in the first quarter valued at about $35,686,000. Progeny 3 Inc. lifted its position in shares of GFL Environmental by 516.3% during the second quarter. Progeny 3 Inc. now owns 893,300 shares of the company’s stock valued at $34,776,000 after purchasing an additional 748,350 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in GFL Environmental by 9.4% during the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock worth $273,053,000 after purchasing an additional 683,120 shares during the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Trading Down 0.4 %

Shares of GFL opened at $39.72 on Wednesday. GFL Environmental Inc. has a fifty-two week low of $26.87 and a fifty-two week high of $43.79. The business has a 50-day moving average of $40.39 and a 200 day moving average of $37.01. The firm has a market cap of $14.95 billion, a P/E ratio of 80.59 and a beta of 1.16. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.89.

GFL Environmental (NYSE:GFL) last posted its earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. As a group, research analysts forecast that GFL Environmental Inc. will post 0.62 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were issued a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, July 15th.

Wall Street Analysts Forecast Growth

GFL has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets cut GFL Environmental from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $43.00 to $42.00 in a research report on Tuesday, July 9th. Finally, Raymond James upped their price objective on GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.64.

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.