Cohen & Steers Inc. Makes New $51.51 Million Investment in GFL Environmental Inc. (NYSE:GFL)

Cohen & Steers Inc. purchased a new position in shares of GFL Environmental Inc. (NYSE:GFL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,156,375 shares of the company’s stock, valued at approximately $51,505,000.

A number of other hedge funds also recently made changes to their positions in the business. Generate Investment Management Ltd acquired a new stake in GFL Environmental during the 4th quarter worth about $15,041,000. Tobam acquired a new position in GFL Environmental during the fourth quarter worth $1,846,000. Raymond James Financial Inc. acquired a new stake in GFL Environmental in the 4th quarter worth approximately $18,836,000. Bleakley Financial Group LLC grew its stake in GFL Environmental by 9.9% in the 4th quarter. Bleakley Financial Group LLC now owns 7,954 shares of the company’s stock valued at $354,000 after buying an additional 718 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of GFL Environmental by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 918,706 shares of the company’s stock worth $36,296,000 after purchasing an additional 65,449 shares during the last quarter. Institutional investors own 64.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GFL. Royal Bank of Canada reissued an “outperform” rating and set a $53.00 price objective on shares of GFL Environmental in a report on Monday, February 24th. National Bankshares reissued an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. Stifel Nicolaus raised shares of GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Truist Financial raised their target price on GFL Environmental from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. Finally, Citigroup dropped their price objective on GFL Environmental from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.25.

GFL Environmental Price Performance

GFL stock opened at $48.29 on Monday. The company has a market capitalization of $18.99 billion, a P/E ratio of -36.30 and a beta of 1.09. The company has a fifty day moving average price of $46.49 and a 200-day moving average price of $44.51. 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 52-week low of $30.57 and a 52-week high of $49.35.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.98 billion. As a group, equities analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be issued a $0.0154 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio is currently -3.87%.

GFL Environmental Company 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.