CIBC Bancorp USA Inc. Makes New $11.86 Million Investment in GFL Environmental Inc. $GFL

CIBC Bancorp USA Inc. purchased a new stake in shares of GFL Environmental Inc. (NYSE:GFL) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 250,283 shares of the company’s stock, valued at approximately $11,858,000. CIBC Bancorp USA Inc. owned about 0.07% of GFL Environmental as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of GFL. Berbice Capital Management LLC acquired a new stake in shares of GFL Environmental during the second quarter worth about $25,000. Sunbelt Securities Inc. purchased a new stake in GFL Environmental in the third quarter valued at approximately $33,000. EverSource Wealth Advisors LLC increased its holdings in GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after buying an additional 219 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in GFL Environmental by 45.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after buying an additional 304 shares during the period. Finally, Jones Financial Companies Lllp raised its position in GFL Environmental by 21.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock worth $75,000 after buying an additional 289 shares during the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on GFL. Weiss Ratings cut shares of GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. Scotiabank cut their price objective on shares of GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 12th. Barclays raised their target price on shares of GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. boosted their target price on shares of GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Finally, The Goldman Sachs Group started coverage on shares of GFL Environmental in a report on Monday, November 24th. They issued a “neutral” rating and a $50.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, GFL Environmental presently has a consensus rating of “Moderate Buy” and an average price target of $56.67.

GFL Environmental Trading Up 0.4%

Shares of NYSE:GFL opened at $42.54 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.05. GFL Environmental Inc. has a 12-month low of $40.83 and a 12-month high of $52.00. The business has a 50 day moving average of $43.25 and a two-hundred day moving average of $44.49. The company has a market capitalization of $15.23 billion, a PE ratio of 6.26, a PEG ratio of 3.30 and a beta of 0.86.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.12. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the company earned ($0.58) EPS. The business’s revenue was up 7.3% on a year-over-year basis. As a group, analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, January 13th were given a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a yield of 0.1%. The ex-dividend date was Tuesday, January 13th. GFL Environmental’s dividend payout ratio (DPR) is currently 0.88%.

GFL Environmental Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.