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

Beutel Goodman & Co Ltd. trimmed its position in shares of GFL Environmental Inc. (NYSE:GFL) by 3.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,913,330 shares of the company’s stock after selling 198,095 shares during the quarter. Beutel Goodman & Co Ltd. owned 1.61% of GFL Environmental worth $297,898,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GFL. EverSource Wealth Advisors LLC lifted its position in shares of GFL Environmental by 43.1% during the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares in the last quarter. AGP Franklin LLC increased its stake in GFL Environmental by 3.7% during the 2nd quarter. AGP Franklin LLC now owns 7,427 shares of the company’s stock worth $375,000 after buying an additional 262 shares during the period. Compass Financial Services Inc lifted its holdings in GFL Environmental by 63.0% during the 2nd quarter. Compass Financial Services Inc now owns 820 shares of the company’s stock worth $41,000 after buying an additional 317 shares in the last quarter. Groupe la Francaise lifted its holdings in GFL Environmental by 1.0% during the 2nd quarter. Groupe la Francaise now owns 39,271 shares of the company’s stock worth $1,977,000 after buying an additional 392 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in GFL Environmental by 10.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,228 shares of the company’s stock valued at $264,000 after buying an additional 489 shares during the period. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GFL. Raymond James Financial set a $57.00 price objective on GFL Environmental and gave the stock an “outperform” rating in a research report on Monday, October 6th. Barclays began coverage on GFL Environmental in a report on Friday, September 19th. They set an “overweight” rating and a $62.00 price target on the stock. Scotiabank set a $58.00 price objective on GFL Environmental in a research note on Friday, October 10th. Weiss Ratings restated a “buy (b)” rating on shares of GFL Environmental in a research note on Wednesday, October 8th. Finally, Citigroup raised their target price on shares of GFL Environmental from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $57.08.

GFL Environmental Price Performance

Shares of NYSE:GFL opened at $44.66 on Friday. GFL Environmental Inc. has a 12 month low of $41.29 and a 12 month high of $52.00. The firm has a market capitalization 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 current ratio of 0.69 and a quick ratio of 0.69. The company’s fifty day moving average price is $45.14 and its 200 day moving average price is $47.62.

GFL Environmental (NYSE:GFL) last released 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). GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the company earned $0.33 EPS. The business’s revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

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