GFL Environmental Inc. (NYSE:GFL) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in GFL Environmental Inc. (NYSE:GFL) by 11.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 176,752 shares of the company’s stock after selling 22,200 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in GFL Environmental were worth $7,049,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GFL. FMR LLC grew its stake in GFL Environmental by 7.4% in the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after acquiring an additional 1,728,598 shares during the period. Millennium Management LLC boosted its holdings in shares of GFL Environmental by 40.0% during the second quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after purchasing an additional 1,614,182 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of GFL Environmental by 162.0% during the third quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company’s stock worth $50,694,000 after purchasing an additional 786,044 shares during the last quarter. Progeny 3 Inc. lifted its position in GFL Environmental by 516.3% during the second quarter. Progeny 3 Inc. now owns 893,300 shares of the company’s stock worth $34,776,000 after buying an additional 748,350 shares during the period. Finally, Maverick Capital Ltd. lifted its position in GFL Environmental by 22.1% during the second quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock worth $127,911,000 after buying an additional 595,259 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Trading Down 0.5 %

GFL opened at $45.79 on Tuesday. The firm has a market capitalization of $18.01 billion, a P/E ratio of -34.55 and a beta of 1.16. The firm’s 50 day moving average is $43.02 and its 200-day moving average is $40.32. GFL Environmental Inc. has a 52-week low of $28.50 and a 52-week high of $48.87. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business 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%. Analysts expect that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is -3.76%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GFL shares. UBS Group upped their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Truist Financial lifted their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 8th. Scotiabank lifted their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. Finally, Raymond James increased their target price on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Three investment 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 stock has an average rating of “Moderate Buy” and an average target price of $45.80.

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.