Mitsubishi UFJ Trust & Banking Corp Decreases Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 45.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,459,305 shares of the company's stock after selling 1,215,337 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.37% of GFL Environmental worth $65,164,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in GFL Environmental by 88.5% in the 3rd quarter. Cerity Partners LLC now owns 21,148 shares of the company's stock worth $843,000 after buying an additional 9,930 shares during the period. Bank of Montreal Can boosted its holdings in shares of GFL Environmental by 35.6% in the 3rd quarter. Bank of Montreal Can now owns 1,190,903 shares of the company's stock valued at $46,769,000 after acquiring an additional 312,472 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of GFL Environmental by 0.4% during the third quarter. The Manufacturers Life Insurance Company now owns 621,387 shares of the company's stock worth $24,804,000 after purchasing an additional 2,529 shares during the last quarter. FMR LLC lifted its position in GFL Environmental by 7.4% during the third quarter. FMR LLC now owns 25,158,657 shares of the company's stock valued at $1,003,591,000 after purchasing an additional 1,728,598 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in GFL Environmental in the third quarter valued at $2,807,000. 64.70% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Price Performance

GFL Environmental stock traded down $1.02 during trading on Friday, reaching $47.78. The company had a trading volume of 2,045,921 shares, compared to its average volume of 1,378,176. The firm has a market capitalization of $18.80 billion, a PE ratio of -35.93 and a beta of 1.16. The firm's 50-day simple moving average is $45.60 and its 200 day simple moving average is $43.94. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. GFL Environmental Inc. has a 1-year low of $30.57 and a 1-year high of $49.35.

GFL Environmental (NYSE:GFL - Get Free Report) last released its earnings results on Monday, February 24th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.98 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. As a group, equities research analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 13th were paid 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 Monday, January 13th. GFL Environmental's dividend payout ratio is presently -3.23%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GFL. Citigroup started coverage on GFL Environmental in a research note on Monday, January 27th. They set a "buy" rating and a $53.00 price objective for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $53.00 price target on shares of GFL Environmental in a research report on Monday, February 24th. Scotiabank upped their price objective on GFL Environmental from $50.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, March 5th. National Bankshares reaffirmed an "outperform" rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Finally, Stifel Nicolaus upgraded shares of GFL Environmental from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $49.63.

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.