Caisse DE Depot ET Placement DU Quebec Has $27 Million Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Caisse DE Depot ET Placement DU Quebec decreased its position in GFL Environmental Inc. (NYSE:GFL) by 9.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 676,077 shares of the company’s stock after selling 71,836 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.18% of GFL Environmental worth $26,999,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Fred Alger Management LLC raised its stake in shares of GFL Environmental by 64.3% in 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 in the last quarter. FMR LLC raised its stake in shares of 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 buying an additional 1,728,598 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of GFL Environmental by 40.0% during the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after acquiring an additional 1,614,182 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of GFL Environmental by 162.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company’s stock valued at $50,694,000 after acquiring an additional 786,044 shares in the last quarter. Finally, Progeny 3 Inc. increased its stake in GFL Environmental by 516.3% in the second quarter. Progeny 3 Inc. now owns 893,300 shares of the company’s stock valued at $34,776,000 after acquiring an additional 748,350 shares during the period. Institutional investors own 64.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Truist Financial raised their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. UBS Group upped their price target on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Scotiabank lifted their price objective on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. Finally, Raymond James boosted their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $45.80.

GFL Environmental Stock Performance

Shares of NYSE:GFL opened at $47.10 on Monday. The business has a fifty day moving average of $42.34 and a 200-day moving average of $39.81. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. GFL Environmental Inc. has a twelve month low of $27.64 and a twelve month high of $47.16. The firm has a market cap of $18.53 billion, a PE ratio of -35.41 and a beta of 1.15.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, topping 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 firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. On average, equities research analysts predict that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Announces Dividend

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

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.