Moore Capital Management LP Sells 29,901 Shares of GFL Environmental Inc. (NYSE:GFL)

Moore Capital Management LP lowered its position in GFL Environmental Inc. (NYSE:GFL) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 328,999 shares of the company’s stock after selling 29,901 shares during the period. Moore Capital Management LP owned approximately 0.08% of GFL Environmental worth $14,654,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GFL. Blue Trust Inc. boosted its position in GFL Environmental by 124.9% in the fourth quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after buying an additional 306 shares during the last quarter. Berbice Capital Management LLC purchased a new position in shares of GFL Environmental during the 4th quarter valued at approximately $27,000. Natixis acquired a new stake in GFL Environmental in the 4th quarter valued at $49,000. SRH Advisors LLC purchased a new stake in shares of GFL Environmental during the fourth quarter worth about $89,000. Finally, Steward Partners Investment Advisory LLC raised its position in shares of GFL Environmental by 350.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company’s stock worth $107,000 after purchasing an additional 1,867 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on GFL Environmental from $53.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Citigroup dropped their price objective on shares of GFL Environmental from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Scotiabank reaffirmed an “outperform” rating on shares of GFL Environmental in a report on Monday, May 5th. UBS Group boosted their price target on GFL Environmental from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, April 4th. Finally, Truist Financial lifted their price target on shares of GFL Environmental from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $54.14.

GFL Environmental Stock Performance

NYSE:GFL opened at $49.62 on Monday. GFL Environmental Inc. has a twelve month low of $30.57 and a twelve month high of $52.00. The firm has a market capitalization of $19.52 billion, a price-to-earnings ratio of -37.31 and a beta of 1.08. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The firm’s fifty day simple moving average is $47.92 and its 200 day simple moving average is $45.72.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.52 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. GFL Environmental’s quarterly revenue was down 13.4% compared to the same quarter last year. As a group, equities research analysts expect that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th were given a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s payout ratio is 1.23%.

GFL Environmental 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.