Jennison Associates LLC Increases Position in GFL Environmental Inc. (NYSE:GFL)

Jennison Associates LLC increased its stake in GFL Environmental Inc. (NYSE:GFL) by 12.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,332,961 shares of the company’s stock after acquiring an additional 147,954 shares during the quarter. Jennison Associates LLC’s holdings in GFL Environmental were worth $46,000,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Nordea Investment Management AB increased its holdings in shares of GFL Environmental by 16.6% in the 4th quarter. Nordea Investment Management AB now owns 7,384,983 shares of the company’s stock valued at $256,259,000 after purchasing an additional 1,053,530 shares in the last quarter. Compound Global Advisors LLC purchased a new position in shares of GFL Environmental in the 4th quarter valued at about $15,232,000. Barton Investment Management increased its holdings in shares of GFL Environmental by 13.6% in the 4th quarter. Barton Investment Management now owns 391,949 shares of the company’s stock valued at $13,526,000 after purchasing an additional 46,999 shares in the last quarter. Sei Investments Co. increased its holdings in GFL Environmental by 59.6% during the 3rd quarter. Sei Investments Co. now owns 619,481 shares of the company’s stock valued at $19,675,000 after acquiring an additional 231,264 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its holdings in GFL Environmental by 37.7% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 426,897 shares of the company’s stock valued at $14,732,000 after acquiring an additional 116,897 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on GFL shares. Wells Fargo & Company raised their target price on shares of GFL Environmental from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. TheStreet upgraded shares of GFL Environmental from a “d+” rating to a “c” rating in a report on Tuesday, February 20th. BMO Capital Markets raised their target price on shares of GFL Environmental from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Jefferies Financial Group raised their target price on shares of GFL Environmental from $46.00 to $51.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Bank of America downgraded 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. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, GFL Environmental currently has an average rating of “Moderate Buy” and a consensus target price of $42.83.

GFL Environmental Price Performance

GFL opened at $33.21 on Wednesday. The company’s 50 day simple moving average is $34.78 and its 200 day simple moving average is $32.69. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.82. GFL Environmental Inc. has a 1 year low of $26.87 and a 1 year high of $39.06.

GFL Environmental (NYSE:GFL) last released 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 return on equity of 4.96% and a net margin of 0.64%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. On average, equities analysts forecast that GFL Environmental Inc. will post 0.81 EPS for the current year.

GFL Environmental Increases Dividend

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

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.