Pictet Asset Management Holding SA Trims Holdings in GFL Environmental Inc. (NYSE:GFL)

Pictet Asset Management Holding SA trimmed its stake in GFL Environmental Inc. (NYSE:GFL - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,833,949 shares of the company's stock after selling 509,565 shares during the period. Pictet Asset Management Holding SA owned approximately 2.75% of GFL Environmental worth $482,564,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Continuum Advisory LLC lifted its stake in GFL Environmental by 60.6% during the third quarter. Continuum Advisory LLC now owns 673 shares of the company's stock worth $29,000 after purchasing an additional 254 shares during the last quarter. Erste Asset Management GmbH lifted its position in GFL Environmental by 2.0% in the 4th quarter. Erste Asset Management GmbH now owns 13,371 shares of the company's stock worth $597,000 after buying an additional 261 shares during the last quarter. Metis Global Partners LLC boosted its stake in GFL Environmental by 5.4% in the fourth quarter. Metis Global Partners LLC now owns 5,790 shares of the company's stock worth $258,000 after buying an additional 298 shares in the last quarter. Blue Trust Inc. grew its position in GFL Environmental by 124.9% during the fourth quarter. Blue Trust Inc. now owns 551 shares of the company's stock valued at $25,000 after acquiring an additional 306 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of GFL Environmental by 12.5% during the fourth quarter. US Bancorp DE now owns 2,890 shares of the company's stock worth $129,000 after acquiring an additional 321 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors.

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GFL Environmental Trading Up 1.3 %

GFL traded up $0.62 during midday trading on Monday, reaching $48.38. 1,135,048 shares of the company's stock traded hands, compared to its average volume of 1,378,023. GFL Environmental Inc. has a 52 week low of $30.57 and a 52 week high of $49.35. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a fifty day moving average of $45.60 and a two-hundred day moving average of $43.96. The stock has a market capitalization of $19.03 billion, a price-to-earnings ratio of -36.40 and a beta of 1.16.

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

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 13th were paid a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Monday, January 13th. GFL Environmental's payout ratio is currently -3.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus raised shares of GFL Environmental from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Royal Bank of Canada restated an "outperform" rating and set a $53.00 price target on shares of GFL Environmental in a research report on Monday, February 24th. National Bankshares reiterated an "outperform" rating on shares of GFL Environmental in a report on Tuesday, March 11th. Citigroup started coverage on GFL Environmental in a report on Monday, January 27th. They set a "buy" rating and a $53.00 target price for the company. Finally, Scotiabank lifted their price target on GFL Environmental from $50.00 to $52.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, GFL Environmental currently has an average rating of "Moderate Buy" and a consensus price target of $49.63.

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.