Boussard & Gavaudan Investment Management LLP Cuts Holdings in GFL Environmental Inc. (NYSE:GFL)

Boussard & Gavaudan Investment Management LLP lowered its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 13.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 56,085 shares of the company’s stock after selling 8,753 shares during the period. Boussard & Gavaudan Investment Management LLP’s holdings in GFL Environmental were worth $2,487,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GFL. Fred Alger Management LLC increased its stake in GFL Environmental by 64.3% in the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock worth $407,619,000 after purchasing an additional 3,999,363 shares during the period. Norges Bank bought a new stake in GFL Environmental during the 4th quarter valued at $126,420,000. Soros Fund Management LLC boosted its position in GFL Environmental by 487.0% during the 3rd quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock valued at $125,874,000 after buying an additional 2,618,589 shares during the period. FMR LLC boosted its position in GFL Environmental by 7.4% during the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company’s stock valued at $1,003,591,000 after buying an additional 1,728,598 shares during the period. Finally, American Century Companies Inc. grew its holdings in GFL Environmental by 40.4% in the 4th quarter. American Century Companies Inc. now owns 2,412,639 shares of the company’s stock worth $107,459,000 after acquiring an additional 693,884 shares during the last quarter. 64.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GFL shares. Citigroup initiated coverage on shares of GFL Environmental in a report on Monday, January 27th. They set a “buy” rating and a $53.00 target price for the company. Stifel Nicolaus upgraded GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Scotiabank upped their target price on GFL Environmental from $50.00 to $52.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 5th. National Bankshares reaffirmed an “outperform” rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $53.00 target price on shares of GFL Environmental in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.63.

GFL Environmental Stock Up 0.9 %

Shares of NYSE GFL opened at $48.80 on Friday. The stock has a market capitalization of $19.20 billion, a price-to-earnings ratio of -36.69 and a beta of 1.16. The firm’s 50-day moving average price is $45.48 and its 200-day moving average price is $43.86. GFL Environmental Inc. has a 12-month low of $30.57 and a 12-month high of $49.35. 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 posted its quarterly earnings results on Monday, February 24th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.98 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. On average, equities research analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 13th were given a $0.014 dividend. The ex-dividend date of this dividend was Monday, January 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.11%. GFL Environmental’s payout ratio is -3.23%.

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.