Nordea Investment Management AB Reduces Stake in GFL Environmental Inc. (NYSE:GFL)

Nordea Investment Management AB decreased its holdings in GFL Environmental Inc. (NYSE:GFL - Free Report) by 13.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,864,555 shares of the company's stock after selling 728,834 shares during the quarter. Nordea Investment Management AB owned 1.24% of GFL Environmental worth $215,792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Continuum Advisory LLC increased its position in shares of GFL Environmental by 60.6% during the third quarter. Continuum Advisory LLC now owns 673 shares of the company's stock valued at $29,000 after acquiring an additional 254 shares during the last quarter. Spartan Fund Management Inc. acquired a new position in shares of GFL Environmental during the 3rd quarter worth about $60,000. Avior Wealth Management LLC purchased a new position in shares of GFL Environmental in the 3rd quarter valued at about $82,000. Andra AP fonden acquired a new stake in shares of GFL Environmental during the 2nd quarter worth about $90,000. Finally, US Bancorp DE lifted its stake in GFL Environmental by 51.5% during the third quarter. US Bancorp DE now owns 2,569 shares of the company's stock worth $102,000 after purchasing an additional 873 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GFL. Truist Financial increased their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Raymond James raised their price objective on GFL Environmental from $47.00 to $50.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. UBS Group upped their target price on GFL Environmental from $47.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Scotiabank lifted their price target on GFL Environmental from $50.00 to $51.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $45.80.

GFL Environmental Stock Performance

Shares of GFL stock traded down $0.43 during mid-day trading on Tuesday, hitting $43.59. The stock had a trading volume of 3,054,088 shares, compared to its average volume of 1,311,347. The firm has a market cap of $17.15 billion, a PE ratio of -32.77 and a beta of 1.17. The company's 50-day simple moving average is $44.87 and its 200-day simple moving average is $41.77. 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 Inc. has a fifty-two week low of $30.57 and a fifty-two week high of $48.87.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Sell-side analysts anticipate that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 13th will be given a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Monday, January 13th. GFL Environmental's payout ratio is -3.76%.

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.