Nordea Investment Management AB Sells 728,834 Shares of GFL Environmental Inc. (NYSE:GFL)

Nordea Investment Management AB decreased its position in GFL Environmental Inc. (NYSE:GFL) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,864,555 shares of the company’s stock after selling 728,834 shares during the period. Nordea Investment Management AB owned 1.24% of GFL Environmental worth $215,792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC lifted its position in GFL Environmental by 11.4% during the 2nd quarter. Natixis Advisors LLC now owns 53,318 shares of the company’s stock valued at $2,075,000 after purchasing an additional 5,471 shares during the period. National Bank of Canada FI lifted its holdings in GFL Environmental by 1.6% in the second quarter. National Bank of Canada FI now owns 183,004 shares of the company’s stock valued at $7,073,000 after buying an additional 2,887 shares during the period. Acadian Asset Management LLC bought a new position in GFL Environmental in the second quarter valued at approximately $201,000. Andra AP fonden acquired a new stake in GFL Environmental during the 2nd quarter worth $90,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of GFL Environmental by 3.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company’s stock valued at $838,000 after acquiring an additional 664 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Stock Performance

Shares of GFL opened at $44.04 on Tuesday. The firm has a market cap of $17.32 billion, a P/E ratio of -33.11 and a beta of 1.17. GFL Environmental Inc. has a twelve month low of $30.57 and a twelve month high of $48.87. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The firm’s 50 day moving average price is $44.83 and its two-hundred day moving average price is $41.73.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. On average, analysts forecast that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

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

Wall Street Analyst Weigh In

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

GFL Environmental 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.