Jennison Associates LLC Boosts Holdings in GFL Environmental Inc. (NYSE:GFL)

Jennison Associates LLC boosted its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,544,690 shares of the company’s stock after buying an additional 101,695 shares during the quarter. Jennison Associates LLC’s holdings in GFL Environmental were worth $68,800,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Seven Grand Managers LLC purchased a new stake in GFL Environmental in the 3rd quarter valued at approximately $1,994,000. Harbor Capital Advisors Inc. lifted its position in shares of GFL Environmental by 115.3% in the third quarter. Harbor Capital Advisors Inc. now owns 49,566 shares of the company’s stock valued at $1,977,000 after acquiring an additional 26,542 shares in the last quarter. FMR LLC boosted its stake in shares of GFL Environmental by 7.4% during the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock valued at $1,003,591,000 after acquiring an additional 1,728,598 shares during the last quarter. Copeland Capital Management LLC increased its position in GFL Environmental by 2.2% during the 3rd quarter. Copeland Capital Management LLC now owns 921,377 shares of the company’s stock worth $36,745,000 after purchasing an additional 19,675 shares in the last quarter. Finally, Forsta AP Fonden acquired a new position in GFL Environmental in the 3rd quarter valued at about $1,761,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GFL shares. Citigroup began coverage on shares of GFL Environmental in a research note on Monday, January 27th. They set a “buy” rating and a $53.00 price target on the stock. UBS Group lifted their target price 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. Scotiabank reduced their price target on GFL Environmental from $51.00 to $50.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. 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 report on Friday, November 8th. Finally, Truist Financial increased their target price on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.50.

GFL Environmental Stock Performance

NYSE GFL opened at $43.46 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. GFL Environmental Inc. has a 1-year low of $30.57 and a 1-year high of $48.87. The firm has a market capitalization of $17.09 billion, a P/E ratio of -32.67 and a beta of 1.17. The business’s 50-day simple moving average is $44.55 and its 200-day simple moving average is $42.32.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Equities analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 13th were issued a $0.014 dividend. The ex-dividend date of this dividend was Monday, January 13th. This represents a $0.06 annualized dividend and a yield of 0.13%. GFL Environmental’s dividend payout ratio is currently -3.76%.

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.