Loomis Sayles & Co. L P Sells 70,460 Shares of GFL Environmental Inc. (NYSE:GFL)

Loomis Sayles & Co. L P cut its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 13.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 435,747 shares of the company’s stock after selling 70,460 shares during the quarter. Loomis Sayles & Co. L P’s holdings in GFL Environmental were worth $17,377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GFL. Millennium Management LLC grew its stake in shares of GFL Environmental by 40.0% during the second quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after buying an additional 1,614,182 shares during the last quarter. Progeny 3 Inc. boosted its holdings in shares of GFL Environmental by 516.3% during the 2nd quarter. Progeny 3 Inc. now owns 893,300 shares of the company’s stock valued at $34,776,000 after acquiring an additional 748,350 shares in the last quarter. Vanguard Group Inc. grew its position in GFL Environmental by 9.4% during the 1st quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock worth $273,053,000 after acquiring an additional 683,120 shares during the last quarter. Maverick Capital Ltd. increased its holdings in GFL Environmental by 22.1% in the 2nd quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock worth $127,911,000 after purchasing an additional 595,259 shares in the last quarter. Finally, Marshall Wace LLP raised its position in GFL Environmental by 26.1% in the second quarter. Marshall Wace LLP now owns 2,476,752 shares of the company’s stock valued at $96,420,000 after purchasing an additional 512,735 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Price Performance

Shares of GFL opened at $46.60 on Wednesday. The firm has a market cap of $18.33 billion, a PE ratio of -35.04 and a beta of 1.15. GFL Environmental Inc. has a 52-week low of $26.87 and a 52-week high of $47.11. The business’s 50 day moving average price is $41.91 and its two-hundred day moving average price is $39.49. 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 (NYSE:GFL) last released its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. On average, equities analysts anticipate that GFL Environmental Inc. will post 0.59 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s payout ratio is -4.51%.

Analysts Set New Price Targets

GFL has been the subject of several recent research reports. Truist Financial upped their price objective on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Raymond James upped their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Scotiabank lifted their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. UBS Group increased their price objective on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their target price on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and an average price target of $45.80.

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.