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

Jennison Associates LLC increased its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 owned about 0.39% of GFL Environmental worth $68,800,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. raised its position in GFL Environmental by 124.9% during the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock worth $25,000 after buying an additional 306 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in GFL Environmental in the 4th quarter valued at $27,000. Continuum Advisory LLC grew its position in shares of GFL Environmental by 60.6% in the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock valued at $29,000 after purchasing an additional 254 shares during the period. Spartan Fund Management Inc. purchased a new stake in GFL Environmental during the 3rd quarter worth approximately $60,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of GFL Environmental during the third quarter worth approximately $82,000. 64.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GFL. UBS Group increased their price target on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Scotiabank lowered their target price on GFL Environmental from $51.00 to $50.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Raymond James upped their price objective on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Truist Financial boosted their price objective on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Citigroup began coverage on shares of GFL Environmental in a report on Monday, January 27th. They issued a “buy” rating and a $53.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, GFL Environmental currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

GFL Environmental Trading Up 0.8 %

Shares of GFL Environmental stock opened at $43.46 on Tuesday. 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 company has a fifty day simple moving average of $44.55 and a 200-day simple moving average of $42.32. The stock has a market cap of $17.09 billion, a price-to-earnings ratio of -32.67 and a beta of 1.17. GFL Environmental Inc. has a 12-month low of $30.57 and a 12-month high of $48.87.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share (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 company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. On average, equities analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Announces Dividend

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

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.