GFL Environmental Inc. $GFL Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its position in GFL Environmental Inc. (NYSE:GFL) by 3.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,224,632 shares of the company’s stock after selling 382,194 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in GFL Environmental were worth $484,443,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GFL. Munro Partners acquired a new stake in shares of GFL Environmental in the second quarter valued at about $12,926,000. Generate Investment Management Ltd purchased a new stake in GFL Environmental during the 3rd quarter valued at about $7,891,000. JPMorgan Chase & Co. grew its stake in GFL Environmental by 11.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 994,849 shares of the company’s stock valued at $50,200,000 after acquiring an additional 105,186 shares in the last quarter. Intech Investment Management LLC acquired a new stake in GFL Environmental in the 2nd quarter valued at about $457,000. Finally, S&CO Inc. lifted its stake in GFL Environmental by 86.6% in the 2nd quarter. S&CO Inc. now owns 114,260 shares of the company’s stock worth $5,765,000 after purchasing an additional 53,030 shares in the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on GFL. William Blair began coverage on GFL Environmental in a research report on Thursday, September 25th. They issued an “outperform” rating for the company. Scotiabank set a $58.00 price objective on GFL Environmental in a research note on Friday, October 10th. Wells Fargo & Company began coverage on GFL Environmental in a report on Thursday, November 13th. They issued an “overweight” rating for the company. The Goldman Sachs Group initiated coverage on GFL Environmental in a research note on Monday, November 24th. They issued a “neutral” rating and a $50.00 target price for the company. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of GFL Environmental in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, GFL Environmental has an average rating of “Buy” and a consensus target price of $56.67.

GFL Environmental Trading Down 0.3%

GFL opened at $42.58 on Monday. The stock has a market capitalization of $15.29 billion, a PE ratio of 6.67 and a beta of 0.88. GFL Environmental Inc. has a one year low of $40.83 and a one year high of $52.00. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.69. The business’s 50 day moving average price is $43.87 and its 200 day moving average price is $46.18.

GFL Environmental (NYSE:GFL) last posted its earnings results on Wednesday, November 5th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. GFL Environmental’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, January 13th will be issued a $0.0154 dividend. This represents a $0.06 annualized dividend and a yield of 0.1%. The ex-dividend date is Tuesday, January 13th. GFL Environmental’s payout ratio is 0.94%.

About GFL Environmental

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.