GFL Environmental Inc. (NYSE:GFL) Shares Sold by Vestcor Inc

Vestcor Inc reduced its position in shares of GFL Environmental Inc. (NYSE:GFL) by 19.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 404,615 shares of the company’s stock after selling 99,800 shares during the period. Vestcor Inc’s holdings in GFL Environmental were worth $16,136,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC lifted its position in GFL Environmental by 7.4% during the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after buying an additional 1,728,598 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of GFL Environmental by 2.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company’s stock valued at $471,287,000 after acquiring an additional 257,486 shares during the last quarter. Fred Alger Management LLC lifted its holdings in shares of GFL Environmental by 64.3% during the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock worth $407,619,000 after acquiring an additional 3,999,363 shares during the period. Millennium Management LLC lifted its holdings in shares of GFL Environmental by 40.0% during the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after acquiring an additional 1,614,182 shares during the period. Finally, Maverick Capital Ltd. boosted its position in shares of GFL Environmental by 11.3% in the third quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock worth $145,889,000 after acquiring an additional 372,534 shares during the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GFL has been the subject of several research analyst reports. Truist Financial upped their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. UBS Group increased their target price on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Scotiabank upped their price target on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Finally, Raymond James lifted their price objective on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, GFL Environmental presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

GFL Environmental Price Performance

GFL stock opened at $45.79 on Tuesday. The firm has a market cap of $18.01 billion, a P/E ratio of -34.43 and a beta of 1.16. 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 1 year low of $28.50 and a 1 year high of $48.87. The stock has a 50-day simple moving average of $43.02 and a 200-day simple moving average of $40.32.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. On average, equities analysts predict that GFL Environmental Inc. will post 0.59 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The company 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. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. GFL Environmental’s dividend payout ratio is currently -3.76%.

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.