Jennison Associates LLC Acquires 147,954 Shares of GFL Environmental Inc. (NYSE:GFL)

Jennison Associates LLC lifted its holdings in GFL Environmental Inc. (NYSE:GFL) by 12.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,332,961 shares of the company’s stock after buying an additional 147,954 shares during the period. Jennison Associates LLC owned about 0.36% of GFL Environmental worth $46,000,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GFL. Massachusetts Financial Services Co. MA boosted its stake in GFL Environmental by 55.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 12,543,970 shares of the company’s stock valued at $398,396,000 after acquiring an additional 4,490,164 shares in the last quarter. Nordea Investment Management AB boosted its stake in GFL Environmental by 16.6% in the fourth quarter. Nordea Investment Management AB now owns 7,384,983 shares of the company’s stock valued at $256,259,000 after acquiring an additional 1,053,530 shares in the last quarter. Vanguard Group Inc. boosted its stake in GFL Environmental by 2.0% in the third quarter. Vanguard Group Inc. now owns 7,154,314 shares of the company’s stock valued at $227,221,000 after acquiring an additional 140,719 shares in the last quarter. Fred Alger Management LLC raised its holdings in shares of GFL Environmental by 6.2% in the third quarter. Fred Alger Management LLC now owns 6,050,953 shares of the company’s stock worth $192,178,000 after buying an additional 355,191 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of GFL Environmental by 4.5% in the third quarter. Royal Bank of Canada now owns 5,498,322 shares of the company’s stock worth $174,628,000 after buying an additional 235,405 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on GFL shares. Royal Bank of Canada started coverage on shares of GFL Environmental in a report on Monday, April 8th. They issued an “outperform” rating and a $46.00 price target for the company. UBS Group started coverage on shares of GFL Environmental in a report on Wednesday, January 31st. They issued a “buy” rating and a $44.00 price target for the company. Jefferies Financial Group raised their price target on shares of GFL Environmental from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Bank of America cut shares of GFL Environmental from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a report on Friday, January 19th. Finally, BMO Capital Markets raised their target price on shares of GFL Environmental from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

GFL Environmental Trading Up 0.3 %

GFL opened at $33.21 on Wednesday. GFL Environmental Inc. has a fifty-two week low of $26.87 and a fifty-two week high of $39.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. The company has a fifty day moving average of $34.78 and a two-hundred day moving average of $32.69.

GFL Environmental (NYSE:GFL) last announced its earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). GFL Environmental had a net margin of 0.64% and a return on equity of 4.96%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. As a group, analysts forecast that GFL Environmental Inc. will post 0.81 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $0.014 per share. The ex-dividend date is Friday, April 12th. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a yield of 0.17%. GFL Environmental’s payout ratio is presently -60.00%.

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.