Massachusetts Financial Services Co. MA Reduces Stake in GFL Environmental Inc. (NYSE:GFL)

Massachusetts Financial Services Co. MA lessened its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 10.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,560,140 shares of the company's stock after selling 1,298,054 shares during the quarter. Massachusetts Financial Services Co. MA owned about 3.07% of GFL Environmental worth $450,036,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Signaturefd LLC increased its position in GFL Environmental by 23.5% during the second quarter. Signaturefd LLC now owns 2,149 shares of the company's stock valued at $84,000 after acquiring an additional 409 shares during the last quarter. Fifth Third Bancorp increased its position in shares of GFL Environmental by 51.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company's stock valued at $53,000 after purchasing an additional 459 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of GFL Environmental by 3.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company's stock worth $838,000 after purchasing an additional 664 shares during the period. Tobam purchased a new position in shares of GFL Environmental in the first quarter worth approximately $25,000. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of GFL Environmental by 13.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,795 shares of the company's stock worth $234,000 after buying an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company's stock.

GFL Environmental Price Performance

GFL stock traded down $1.01 during midday trading on Tuesday, hitting $39.19. The company's stock had a trading volume of 1,605,719 shares, compared to its average volume of 1,241,234. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.45. GFL Environmental Inc. has a 12 month low of $26.87 and a 12 month high of $43.79. The company has a 50 day moving average of $40.22 and a two-hundred day moving average of $36.66. The firm has a market capitalization of $14.75 billion, a price-to-earnings ratio of 38.05 and a beta of 1.16.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. On average, analysts expect that GFL Environmental Inc. will post 0.62 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Monday, July 15th. GFL Environmental's dividend payout ratio is presently 4.85%.

Analyst Ratings Changes

Several brokerages have recently weighed in on GFL. BMO Capital Markets cut shares of GFL Environmental from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $43.00 to $42.00 in a research note on Tuesday, July 9th. Royal Bank of Canada raised 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, Raymond James boosted their price target on GFL Environmental from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.64.

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.