Jennison Associates LLC Sells 201,071 Shares of GFL Environmental Inc. (NYSE:GFL)

Jennison Associates LLC decreased its stake in GFL Environmental Inc. (NYSE:GFL) by 12.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,442,995 shares of the company’s stock after selling 201,071 shares during the quarter. Jennison Associates LLC owned about 0.38% of GFL Environmental worth $57,547,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GFL. PCJ Investment Counsel Ltd. grew its holdings in GFL Environmental by 59.0% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 88,350 shares of the company’s stock valued at $3,524,000 after purchasing an additional 32,800 shares during the last quarter. Avior Wealth Management LLC bought a new position in shares of GFL Environmental during the third quarter valued at approximately $82,000. Swiss National Bank raised its holdings in shares of GFL Environmental by 0.8% in the third quarter. Swiss National Bank now owns 661,900 shares of the company’s stock worth $26,446,000 after buying an additional 5,400 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of GFL Environmental by 93.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 40,304 shares of the company’s stock worth $1,607,000 after acquiring an additional 19,520 shares during the last quarter. Finally, Aigen Investment Management LP boosted its holdings in GFL Environmental by 87.3% during the 3rd quarter. Aigen Investment Management LP now owns 13,665 shares of the company’s stock valued at $545,000 after acquiring an additional 6,370 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Trading Down 0.7 %

Shares of NYSE GFL opened at $45.27 on Thursday. GFL Environmental Inc. has a 1-year low of $26.87 and a 1-year high of $46.48. The business has a fifty day moving average price of $41.41 and a 200 day moving average price of $39.07. The stock has a market capitalization of $17.05 billion, a P/E ratio of -34.04 and a beta of 1.15. 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 (NYSE:GFL) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 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 business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Equities research analysts expect that GFL Environmental Inc. will post 0.6 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have weighed in on GFL shares. Raymond James increased their target price on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada lifted their price objective on shares of GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Truist Financial upped their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Scotiabank lifted their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. Finally, UBS Group increased their price objective on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three 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 currently has a consensus rating of “Moderate Buy” and an average target price of $45.80.

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.