CIBC Asset Management Inc Decreases Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

CIBC Asset Management Inc lowered its holdings in GFL Environmental Inc. (NYSE:GFL) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,954,967 shares of the company’s stock after selling 50,130 shares during the period. CIBC Asset Management Inc owned about 0.50% of GFL Environmental worth $86,953,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GFL. Fred Alger Management LLC grew its holdings in GFL Environmental by 64.3% during the third quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after purchasing an additional 3,999,363 shares during the period. Soros Fund Management LLC increased its holdings in GFL Environmental by 487.0% in the 3rd quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock worth $125,874,000 after acquiring an additional 2,618,589 shares during the last quarter. FMR LLC raised its stake in GFL Environmental by 7.4% in the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company’s stock valued at $1,003,591,000 after acquiring an additional 1,728,598 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in GFL Environmental by 162.0% during the third quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company’s stock valued at $50,694,000 after purchasing an additional 786,044 shares during the last quarter. Finally, Maverick Capital Ltd. boosted its position in GFL Environmental by 11.3% during the third quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock worth $145,889,000 after purchasing an additional 372,534 shares during the period. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Performance

GFL opened at $46.58 on Monday. The business has a 50 day simple moving average of $44.35 and a two-hundred day simple moving average of $42.80. GFL Environmental Inc. has a one year low of $30.57 and a one year high of $48.87. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 13th were given a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date was Monday, January 13th. GFL Environmental’s dividend payout ratio is presently -4.51%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup assumed coverage on shares of GFL Environmental in a research note on Monday, January 27th. They issued a “buy” rating and a $53.00 price objective for the company. Scotiabank cut their target price on GFL Environmental from $51.00 to $50.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. Truist Financial increased 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. UBS Group upped their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Raymond James boosted their target price on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

GFL Environmental Profile

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.