Cerity Partners LLC Reduces Position in GFL Environmental Inc. (NYSE:GFL)

Cerity Partners LLC decreased its holdings in GFL Environmental Inc. (NYSE:GFL) by 46.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,369 shares of the company’s stock after selling 9,779 shares during the period. Cerity Partners LLC’s holdings in GFL Environmental were worth $506,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GFL. FMR LLC lifted its position in GFL Environmental by 10.0% during the fourth quarter. FMR LLC now owns 27,664,678 shares of the company’s stock worth $1,233,223,000 after buying an additional 2,506,021 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of GFL Environmental by 2.7% in the 4th quarter. Russell Investments Group Ltd. now owns 702,607 shares of the company’s stock worth $31,294,000 after acquiring an additional 18,652 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of GFL Environmental by 16.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 207,157 shares of the company’s stock worth $9,227,000 after acquiring an additional 29,467 shares during the period. Geode Capital Management LLC boosted its position in shares of GFL Environmental by 38.7% during the 4th quarter. Geode Capital Management LLC now owns 1,274,496 shares of the company’s stock valued at $56,496,000 after acquiring an additional 355,790 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of GFL Environmental by 21.8% in the fourth quarter. National Bank of Canada FI now owns 260,675 shares of the company’s stock valued at $11,630,000 after purchasing an additional 46,668 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Price Performance

GFL Environmental stock opened at $47.04 on Tuesday. The company’s 50 day moving average is $46.78 and its two-hundred day moving average is $44.87. The firm has a market cap of $18.50 billion, a PE ratio of -35.37 and a beta of 1.09. 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 Inc. has a 52-week low of $30.57 and a 52-week high of $49.45.

GFL Environmental (NYSE:GFL) last released its earnings results on Monday, February 24th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.98 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. On average, research analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 14th will be paid a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.13%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s payout ratio is currently -3.87%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GFL shares. Raymond James set a $56.00 price target on shares of GFL Environmental and gave the company an “outperform” rating in a research note on Wednesday, April 16th. Citigroup lowered their price objective on GFL Environmental from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. UBS Group lifted their target price on GFL Environmental from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, April 4th. Stifel Nicolaus upgraded GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Finally, National Bankshares restated an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

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.