CIBC Asset Management Inc Has $219.36 Million Holdings in GFL Environmental Inc. $GFL

CIBC Asset Management Inc boosted its stake in GFL Environmental Inc. (NYSE:GFL) by 25.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,101,264 shares of the company’s stock after buying an additional 1,047,180 shares during the quarter. CIBC Asset Management Inc owned approximately 1.42% of GFL Environmental worth $219,360,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GFL. Sunbelt Securities Inc. bought a new position in shares of GFL Environmental during the third quarter valued at $33,000. EverSource Wealth Advisors LLC increased its position in shares of GFL Environmental by 43.1% during the 2nd 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. Caitong International Asset Management Co. Ltd increased its position in shares of GFL Environmental by 45.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after purchasing an additional 304 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in GFL Environmental by 21.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock valued at $75,000 after purchasing an additional 289 shares during the last quarter. Finally, Danske Bank A S bought a new position in GFL Environmental during the 3rd quarter valued at about $82,000. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Trading Down 1.6%

NYSE:GFL opened at $33.78 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51. GFL Environmental Inc. has a fifty-two week low of $33.33 and a fifty-two week high of $51.51. The business’s 50-day simple moving average is $39.02 and its 200-day simple moving average is $42.01. The stock has a market capitalization of $12.12 billion, a PE ratio of 105.57, a price-to-earnings-growth ratio of 2.67 and a beta of 0.71.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share. Sell-side analysts expect that GFL Environmental Inc. will post 0.54 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 13th were paid a $0.0169 dividend. This represents a $0.07 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, April 13th. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s dividend payout ratio (DPR) is presently 21.88%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GFL shares. Zacks Research cut shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. downgraded GFL Environmental from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $49.00 to $42.00 in a report on Tuesday, April 14th. Wolfe Research started coverage on GFL Environmental in a report on Friday, March 13th. They set an “outperform” rating for the company. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Finally, Scotiabank reduced their target price on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.00.

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.