Intech Investment Management LLC Sells 12,240 Shares of GFL Environmental Inc. (NYSE:GFL)

Intech Investment Management LLC trimmed its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 45.6% during the third quarter, Holdings Channel.com reports. The fund owned 14,586 shares of the company’s stock after selling 12,240 shares during the quarter. Intech Investment Management LLC’s holdings in GFL Environmental were worth $582,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of GFL. Millennium Management LLC grew its holdings 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 valued at $219,922,000 after purchasing an additional 1,614,182 shares during the last quarter. Progeny 3 Inc. boosted its position in GFL Environmental by 516.3% in the second quarter. Progeny 3 Inc. now owns 893,300 shares of the company’s stock valued at $34,776,000 after buying an additional 748,350 shares in the last quarter. Maverick Capital Ltd. boosted its position in GFL Environmental by 22.1% in the second quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock valued at $127,911,000 after buying an additional 595,259 shares in the last quarter. Marshall Wace LLP grew its stake in shares of GFL Environmental by 26.1% during the second quarter. Marshall Wace LLP now owns 2,476,752 shares of the company’s stock worth $96,420,000 after buying an additional 512,735 shares during the last quarter. Finally, Fred Alger Management LLC increased its holdings in shares of GFL Environmental by 7.1% during the second quarter. Fred Alger Management LLC now owns 6,221,767 shares of the company’s stock worth $242,213,000 after buying an additional 411,128 shares in the last quarter. 64.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Scotiabank upped their price objective on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. Truist Financial lifted their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Raymond James raised 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. Finally, UBS Group raised their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

GFL Environmental Trading Up 1.8 %

GFL Environmental stock opened at $47.10 on Monday. GFL Environmental Inc. has a 12 month low of $27.64 and a 12 month high of $47.16. The company has a market capitalization of $18.53 billion, a price-to-earnings ratio of -35.41 and a beta of 1.15. The business’s fifty day simple moving average is $42.34 and its two-hundred day simple moving average is $39.81. 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 earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. As a group, equities analysts predict that GFL Environmental Inc. will post 0.59 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

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

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.