Jennison Associates LLC Sells 201,071 Shares of GFL Environmental Inc. (NYSE:GFL)

Jennison Associates LLC trimmed its position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,442,995 shares of the company's stock after selling 201,071 shares during the period. Jennison Associates LLC owned approximately 0.38% of GFL Environmental worth $57,547,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GFL. Cape Investment Advisory Inc. boosted its holdings in GFL Environmental by 325.0% during the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company's stock valued at $44,000 after purchasing an additional 975 shares in the last quarter. Fifth Third Bancorp boosted its holdings in GFL Environmental by 51.1% during the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company's stock valued at $53,000 after purchasing an additional 459 shares in the last quarter. Spartan Fund Management Inc. acquired a new stake in GFL Environmental during the third quarter valued at approximately $60,000. Tobam boosted its holdings in GFL Environmental by 139.5% during the second quarter. Tobam now owns 1,751 shares of the company's stock valued at $68,000 after purchasing an additional 1,020 shares in the last quarter. Finally, Avior Wealth Management LLC acquired a new stake in GFL Environmental during the third quarter valued at approximately $82,000. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Trading Up 1.1 %

Shares of GFL Environmental stock traded up $0.50 on Thursday, hitting $45.77. 923,106 shares of the company's stock traded hands, compared to its average volume of 1,217,306. The firm's 50-day moving average price is $41.52 and its two-hundred day moving average price is $39.11. The stock has a market capitalization of $17.23 billion, a PE ratio of -34.41 and a beta of 1.15. GFL Environmental Inc. has a one year low of $26.87 and a one year high of $46.48. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58.

GFL Environmental (NYSE:GFL - Get Free Report) 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. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. On average, research analysts expect that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a dividend of $0.014 per share. 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 payout ratio is -4.51%.

Analysts Set New Price Targets

Several brokerages have recently commented on GFL. Raymond James boosted their target price on GFL Environmental from $47.00 to $50.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Truist Financial boosted their target price on GFL Environmental from $46.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Scotiabank boosted their target price on GFL Environmental from $50.00 to $51.00 and gave the stock a "sector outperform" rating in a report on Friday, November 8th. Royal Bank of Canada boosted their target price on GFL Environmental from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. Finally, UBS Group upped 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. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently 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.