Bank of Montreal Can Has $46.77 Million Position in GFL Environmental Inc. (NYSE:GFL)

Bank of Montreal Can raised its holdings in GFL Environmental Inc. (NYSE:GFL) by 35.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,190,903 shares of the company’s stock after buying an additional 312,472 shares during the period. Bank of Montreal Can owned 0.32% of GFL Environmental worth $46,769,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. increased its stake in GFL Environmental by 325.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock valued at $44,000 after buying an additional 975 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of GFL Environmental by 51.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after purchasing an additional 459 shares during the last quarter. Spartan Fund Management Inc. acquired a new position in shares of GFL Environmental during the 3rd quarter worth about $60,000. Tobam increased its stake in shares of GFL Environmental by 139.5% during the 2nd quarter. Tobam now owns 1,751 shares of the company’s stock worth $68,000 after purchasing an additional 1,020 shares during the last quarter. Finally, Avior Wealth Management LLC acquired a new position in shares of GFL Environmental during the 3rd quarter worth about $82,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Stock Performance

NYSE GFL opened at $46.25 on Thursday. 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 capitalization of $18.19 billion, a P/E ratio of -34.77 and a beta of 1.15. GFL Environmental Inc. has a 12-month low of $26.87 and a 12-month high of $47.11. The firm has a 50-day moving average price of $42.05 and a two-hundred day moving average price of $39.54.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data 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. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. Analysts anticipate that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Wednesday, October 16th. GFL Environmental’s dividend payout ratio is currently -3.76%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GFL. UBS Group boosted their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Raymond James boosted their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Scotiabank boosted their price objective on shares of 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 boosted their price objective 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. Finally, Royal Bank of Canada lifted their target price on shares of GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.80.

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.