Loomis Sayles & Co. L P Sells 70,460 Shares of GFL Environmental Inc. (NYSE:GFL)

Loomis Sayles & Co. L P reduced its position in GFL Environmental Inc. (NYSE:GFL) by 13.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 435,747 shares of the company’s stock after selling 70,460 shares during the period. Loomis Sayles & Co. L P owned about 0.12% of GFL Environmental worth $17,377,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of GFL Environmental by 9.4% in the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock valued at $273,053,000 after buying an additional 683,120 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in GFL Environmental by 36.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 79,721 shares of the company’s stock valued at $2,746,000 after acquiring an additional 21,254 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in GFL Environmental by 31.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 13,123 shares of the company’s stock valued at $453,000 after purchasing an additional 3,166 shares during the last quarter. Tidal Investments LLC boosted its position in GFL Environmental by 68.6% during the first quarter. Tidal Investments LLC now owns 18,133 shares of the company’s stock worth $626,000 after purchasing an additional 7,377 shares during the period. Finally, Cape Investment Advisory Inc. boosted its position in GFL Environmental by 325.0% during the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock worth $44,000 after purchasing an additional 975 shares during the period. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Down 0.4 %

Shares of NYSE GFL opened at $46.60 on Wednesday. GFL Environmental Inc. has a 52 week low of $26.87 and a 52 week high of $47.11. The stock’s fifty day moving average is $41.91 and its 200 day moving average is $39.49. 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 stock has a market capitalization of $18.33 billion, a P/E ratio of -35.04 and a beta of 1.15.

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

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s dividend payout ratio is presently -4.51%.

Wall Street Analysts Forecast Growth

GFL has been the subject of a number of research reports. Raymond James raised their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada raised their price objective on shares of GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. UBS Group boosted their price objective on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Scotiabank increased their target price on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Finally, Truist Financial boosted their price target on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.