The Manufacturers Life Insurance Company Increases Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

The Manufacturers Life Insurance Company boosted its stake in GFL Environmental Inc. (NYSE:GFL) by 0.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 621,387 shares of the company’s stock after buying an additional 2,529 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in GFL Environmental were worth $24,804,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Tidal Investments LLC grew its stake in shares of GFL Environmental by 68.6% in the 1st quarter. Tidal Investments LLC now owns 18,133 shares of the company’s stock worth $626,000 after acquiring an additional 7,377 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in GFL Environmental by 292.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 23,024 shares of the company’s stock valued at $896,000 after buying an additional 17,158 shares during the last quarter. Threadgill Financial LLC lifted its position in shares of GFL Environmental by 17.1% during the 2nd quarter. Threadgill Financial LLC now owns 11,841 shares of the company’s stock worth $461,000 after buying an additional 1,726 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of GFL Environmental by 43.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,732 shares of the company’s stock worth $379,000 after buying an additional 2,937 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of GFL Environmental by 51.1% in the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock valued at $53,000 after acquiring an additional 459 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GFL has been the topic of a number of recent analyst reports. UBS Group lifted their price target on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Scotiabank lifted their target price on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Truist Financial increased their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Raymond James lifted their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

GFL Environmental Stock Performance

NYSE GFL opened at $47.10 on Friday. The firm has a market cap of $18.53 billion, a P/E ratio of -35.41 and a beta of 1.15. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The company’s 50 day moving average is $42.34 and its 200-day moving average is $39.75. GFL Environmental Inc. has a 12-month low of $27.64 and a 12-month high of $47.16.

GFL Environmental (NYSE:GFL) last issued its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Sell-side analysts predict that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid a $0.014 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 annualized dividend and a yield of 0.12%. GFL Environmental’s dividend payout ratio is currently -4.51%.

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.