GFL Environmental Inc. (NYSE:GFL) Shares Sold by Sei Investments Co.

Posted by Defense World Staff on Jun 5th, 2023

Sei Investments Co. lowered its stake in GFL Environmental Inc. (NYSE:GFL – Get Rating) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,505 shares of the company’s stock after selling 43,736 shares during the quarter. Sei Investments Co. owned about 0.06% of GFL Environmental worth $5,656,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GFL. Royal Bank of Canada lifted its position in GFL Environmental by 128.0% in the third quarter. Royal Bank of Canada now owns 5,617,551 shares of the company’s stock valued at $142,067,000 after buying an additional 3,153,276 shares during the last quarter. BlackRock Inc. increased its stake in GFL Environmental by 67.9% during the first quarter. BlackRock Inc. now owns 4,132,297 shares of the company’s stock worth $134,465,000 after purchasing an additional 1,670,653 shares during the period. Goldman Sachs Group Inc. increased its stake in GFL Environmental by 204.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,035,930 shares of the company’s stock worth $66,250,000 after purchasing an additional 1,366,424 shares during the period. Vanguard Group Inc. increased its stake in GFL Environmental by 13.0% during the third quarter. Vanguard Group Inc. now owns 5,119,376 shares of the company’s stock worth $129,469,000 after purchasing an additional 590,162 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in GFL Environmental by 41.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,683,967 shares of the company’s stock worth $42,503,000 after purchasing an additional 495,767 shares during the period. Institutional investors and hedge funds own 63.25% of the company’s stock.

GFL Environmental Stock Up 1.6 %

Shares of GFL opened at $37.51 on Monday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.50 and a current ratio of 1.50. The company’s 50 day simple moving average is $35.61 and its 200-day simple moving average is $32.19. GFL Environmental Inc. has a 12-month low of $23.10 and a 12-month high of $38.26.

GFL Environmental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Monday, April 17th were given a $0.013 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.14%. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, April 14th. GFL Environmental’s dividend payout ratio (DPR) is -3.82%.

Analyst Ratings Changes

GFL has been the topic of a number of recent research reports. Royal Bank of Canada upped their target price on shares of GFL Environmental from $39.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, May 1st. TheStreet upgraded shares of GFL Environmental from a “d” rating to a “c-” rating in a research note on Thursday, March 2nd. BMO Capital Markets upped their target price on shares of GFL Environmental from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Thursday, February 23rd. JPMorgan Chase & Co. increased their price target on shares of GFL Environmental from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, February 23rd. Finally, Raymond James increased their price target on shares of GFL Environmental from $38.00 to $40.00 in a research note on Tuesday, May 2nd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $41.85.

About GFL Environmental

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GFL Environmental Inc operates as a diversified environmental services company in Canada and the United States. The company offers non-hazardous solid waste management, infrastructure and soil remediation, and liquid waste management services. Its solid waste management business line includes the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste for municipal, residential, and commercial and industrial customers.