Natixis Advisors LLC Trims Stake in GFL Environmental Inc. (NYSE:GFL)

Natixis Advisors LLC lessened its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 20.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 42,680 shares of the company’s stock after selling 10,638 shares during the quarter. Natixis Advisors LLC’s holdings in GFL Environmental were worth $1,702,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Millennium Management LLC lifted its stake 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 last quarter. Progeny 3 Inc. lifted its position in shares of GFL Environmental by 516.3% during the second quarter. Progeny 3 Inc. now owns 893,300 shares of the company’s stock worth $34,776,000 after purchasing an additional 748,350 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of GFL Environmental by 9.4% during the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock valued at $273,053,000 after purchasing an additional 683,120 shares during the period. Maverick Capital Ltd. boosted its stake in shares of GFL Environmental by 22.1% during the second quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock valued at $127,911,000 after purchasing an additional 595,259 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of GFL Environmental by 26.1% in the second quarter. Marshall Wace LLP now owns 2,476,752 shares of the company’s stock worth $96,420,000 after purchasing an additional 512,735 shares during the last quarter. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Up 2.0 %

Shares of NYSE GFL opened at $46.78 on Tuesday. GFL Environmental Inc. has a 12-month low of $26.87 and a 12-month high of $47.11. The stock’s fifty day simple moving average is $41.76 and its two-hundred day simple moving average is $39.39. The stock has a market capitalization of $18.40 billion, a PE ratio of -35.17 and a beta of 1.15. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data 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. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. As a group, analysts expect that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

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

Analyst Upgrades and Downgrades

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