Phraction Management LLC Cuts Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Phraction Management LLC trimmed its position in shares of GFL Environmental Inc. (NYSE:GFL) by 39.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 17,830 shares of the company’s stock after selling 11,450 shares during the quarter. Phraction Management LLC’s holdings in GFL Environmental were worth $794,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GFL. Blue Trust Inc. boosted its holdings 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 acquiring an additional 306 shares during the last quarter. Berbice Capital Management LLC bought a new stake in shares of GFL Environmental during the 4th quarter worth $27,000. Continuum Advisory LLC raised its stake in shares of GFL Environmental by 60.6% during the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after purchasing an additional 254 shares during the period. Spartan Fund Management Inc. bought a new stake in shares of GFL Environmental during the 3rd quarter worth $60,000. Finally, Avior Wealth Management LLC bought a new stake in shares of GFL Environmental during the 3rd quarter worth $82,000. 64.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GFL shares. Raymond James lifted 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. Scotiabank lowered their target price on GFL Environmental from $51.00 to $50.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. UBS Group boosted their price objective on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Citigroup initiated coverage on GFL Environmental in a research note on Monday, January 27th. They issued a “buy” rating and a $53.00 price objective on the stock. Finally, Truist Financial boosted 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

GFL Environmental Stock Performance

Shares of GFL stock opened at $45.92 on Thursday. The stock has a 50 day moving average price of $44.37 and a two-hundred day moving average price of $42.64. 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 Inc. has a fifty-two week low of $30.57 and a fifty-two week high of $48.87.

GFL Environmental Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 13th were issued a $0.014 dividend. The ex-dividend date was Monday, January 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. GFL Environmental’s dividend payout ratio (DPR) is -4.51%.

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.