TCW Group Inc. Invests $617,000 in GFL Environmental Inc. (NYSE:GFL)

by · The Markets Daily

TCW Group Inc. purchased a new position in shares of GFL Environmental Inc. (NYSE:GFL – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,843 shares of the company’s stock, valued at approximately $617,000.

A number of other hedge funds also recently modified their holdings of GFL. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of GFL Environmental by 35.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 12,632 shares of the company’s stock worth $401,000 after purchasing an additional 3,313 shares during the period. Barclays PLC lifted its holdings in GFL Environmental by 19.8% in the third quarter. Barclays PLC now owns 16,070 shares of the company’s stock valued at $510,000 after buying an additional 2,654 shares during the period. Quantbot Technologies LP acquired a new position in GFL Environmental in the third quarter valued at $464,000. Norwood Investment Partners LP lifted its holdings in GFL Environmental by 4.1% in the third quarter. Norwood Investment Partners LP now owns 525,005 shares of the company’s stock valued at $16,674,000 after buying an additional 20,505 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in GFL Environmental by 55.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 12,543,970 shares of the company’s stock valued at $398,396,000 after buying an additional 4,490,164 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GFL shares. Wells Fargo & Company boosted their target price on shares of GFL Environmental from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. BMO Capital Markets upped their price objective on shares of GFL Environmental from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Royal Bank of Canada initiated coverage on shares of GFL Environmental in a research report on Monday, April 8th. They issued an “outperform” rating and a $46.00 price objective for the company. TD Cowen upped their price objective on shares of GFL Environmental from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Jefferies Financial Group upped their price objective on shares of GFL Environmental from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.08.

Read Our Latest Stock Report on GFL

GFL Environmental Stock Performance

Shares of GFL stock traded down $0.22 during trading on Friday, reaching $31.06. 767,523 shares of the company’s stock traded hands, compared to its average volume of 1,167,486. The company has a market capitalization of $11.53 billion, a P/E ratio of 48.53 and a beta of 1.15. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.29. The firm’s 50-day moving average is $33.27 and its 200 day moving average is $33.03. GFL Environmental Inc. has a 1 year low of $26.87 and a 1 year high of $39.06.

GFL Environmental Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were paid a dividend of $0.014 per share. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend was Friday, April 12th.

About GFL Environmental

(Free Report)

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.

Further Reading

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