PCJ Investment Counsel Ltd. Purchases 32,800 Shares of GFL Environmental Inc. (NYSE:GFL)

PCJ Investment Counsel Ltd. grew its position in shares of GFL Environmental Inc. (NYSE:GFL) by 59.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,350 shares of the company’s stock after buying an additional 32,800 shares during the quarter. GFL Environmental accounts for approximately 1.1% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 27th largest position. PCJ Investment Counsel Ltd.’s holdings in GFL Environmental were worth $3,524,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GFL. Cape Investment Advisory Inc. raised its holdings in GFL Environmental by 325.0% during the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock valued at $44,000 after acquiring an additional 975 shares during the period. Fifth Third Bancorp raised its holdings in GFL Environmental by 51.1% during 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 during the period. Spartan Fund Management Inc. bought a new stake in GFL Environmental during the third quarter valued at about $60,000. Tobam raised its holdings in GFL Environmental by 139.5% during the second quarter. Tobam now owns 1,751 shares of the company’s stock valued at $68,000 after acquiring an additional 1,020 shares during the period. Finally, Avior Wealth Management LLC bought a new stake in GFL Environmental during the third quarter valued at about $82,000. 64.70% of the stock is owned by institutional investors.

GFL Environmental Stock Performance

NYSE:GFL opened at $45.59 on Wednesday. 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 has a market cap of $17.17 billion, a P/E ratio of -34.28 and a beta of 1.15. GFL Environmental Inc. has a fifty-two week low of $26.87 and a fifty-two week high of $46.48. The firm’s 50 day moving average is $41.32 and its two-hundred day moving average is $39.02.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. Analysts expect that GFL Environmental Inc. will post 0.6 EPS for the current year.

GFL Environmental Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on GFL. Royal Bank of Canada lifted their price target on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Raymond James lifted their price target on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Scotiabank lifted their price target on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. UBS Group lifted their price target on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Truist Financial lifted their price target on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, GFL Environmental currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.80.

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.