Beutel Goodman & Co Ltd. Has $279.18 Million Stake in GFL Environmental Inc. (NYSE:GFL)

Beutel Goodman & Co Ltd. reduced its stake in GFL Environmental Inc. (NYSE:GFL) by 10.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,265,968 shares of the company’s stock after selling 701,633 shares during the quarter. Beutel Goodman & Co Ltd. owned 1.59% of GFL Environmental worth $279,184,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GFL. Blue Trust Inc. boosted its position in shares of GFL Environmental by 124.9% during the fourth quarter. Blue Trust Inc. now owns 551 shares of the company’s stock worth $25,000 after buying an additional 306 shares during the period. Berbice Capital Management LLC bought a new stake in GFL Environmental in the 4th quarter valued at approximately $27,000. Continuum Advisory LLC boosted its position in GFL Environmental by 60.6% during the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after acquiring an additional 254 shares during the last quarter. SRH Advisors LLC bought a new position in shares of GFL Environmental during the 4th quarter worth approximately $89,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of GFL Environmental by 350.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company’s stock valued at $107,000 after purchasing an additional 1,867 shares during the last quarter. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Price Performance

Shares of GFL opened at $47.78 on Friday. The company’s 50-day moving average is $45.60 and its 200-day moving average is $43.91. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $18.80 billion, a PE ratio of -35.93 and a beta of 1.16. GFL Environmental Inc. has a fifty-two week low of $30.57 and a fifty-two week high of $49.35.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, beating 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 firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Equities analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 13th 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 of this dividend was Monday, January 13th. GFL Environmental’s dividend payout ratio is -3.23%.

Wall Street Analyst Weigh In

GFL has been the subject of several recent research reports. Scotiabank increased their target price on shares of GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 5th. Citigroup assumed coverage on shares of GFL Environmental in a research report on Monday, January 27th. They set a “buy” rating and a $53.00 price target on the stock. National Bankshares restated an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $53.00 target price on shares of GFL Environmental in a report on Monday, February 24th. Finally, Stifel Nicolaus raised shares of GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, GFL Environmental currently has an average rating of “Moderate Buy” and a consensus price target of $49.63.

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.