Envestnet Asset Management Inc. Sells 29,904 Shares of GFL Environmental Inc. (NYSE:GFL)

Envestnet Asset Management Inc. decreased its position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 14.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,253 shares of the company's stock after selling 29,904 shares during the quarter. Envestnet Asset Management Inc.'s holdings in GFL Environmental were worth $8,563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in GFL Environmental in the fourth quarter valued at $126,420,000. Capital Research Global Investors raised its position in shares of GFL Environmental by 11.4% in the fourth quarter. Capital Research Global Investors now owns 26,973,784 shares of the company's stock valued at $1,201,406,000 after purchasing an additional 2,751,618 shares during the period. FMR LLC boosted its holdings in shares of GFL Environmental by 10.0% during the 4th quarter. FMR LLC now owns 27,664,678 shares of the company's stock worth $1,233,223,000 after buying an additional 2,506,021 shares during the period. Wellington Management Group LLP bought a new position in shares of GFL Environmental during the fourth quarter worth approximately $93,343,000. Finally, Cohen & Steers Inc. bought a new position in GFL Environmental during the fourth quarter worth about $51,505,000. 64.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GFL shares. Scotiabank reaffirmed an "outperform" rating on shares of GFL Environmental in a report on Monday, May 5th. JPMorgan Chase & Co. initiated coverage on shares of GFL Environmental in a research note on Friday, May 23rd. They set a "neutral" rating and a $54.00 target price for the company. UBS Group lifted their price objective on GFL Environmental from $50.00 to $57.00 and gave the stock a "buy" rating in a research report on Friday, April 4th. Raymond James Financial reaffirmed an "outperform" rating and set a $57.00 target price (up previously from $56.00) on shares of GFL Environmental in a research note on Friday, May 2nd. Finally, Citigroup boosted their price target on GFL Environmental from $53.00 to $56.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $56.29.

GFL Environmental Stock Up 1.2%

Shares of NYSE GFL traded up $0.59 during midday trading on Thursday, hitting $48.14. 360,359 shares of the stock traded hands, compared to its average volume of 1,698,331. The company has a market cap of $17.65 billion, a PE ratio of 9.86 and a beta of 1.03. The business has a 50 day moving average price of $49.08 and a two-hundred day moving average price of $47.31. GFL Environmental Inc. has a one year low of $37.00 and a one year high of $52.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.82 and a current ratio of 0.82.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.10). The company had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.52 billion. GFL Environmental had a net margin of 36.01% and a return on equity of 3.93%. The firm's revenue for the quarter was down 13.4% compared to the same quarter last year. On average, equities analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 14th will be issued a $0.0154 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental's dividend payout ratio is currently 1.23%.

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.