Jennison Associates LLC Has $10.45 Million Holdings in GFL Environmental Inc. $GFL

Key Points

• Jennison Associates cut its stake in GFL by 65.8% in Q4, selling 467,357 shares and retaining 243,220 shares worth about $10.45 million.
• Analyst sentiment is mixed but tilted positive with a MarketBeat consensus of "Moderate Buy" and a consensus target price of $55.44, despite recent downgrades from firms like JPMorgan and upgrades/initiations from others.
• GFL recently reported an EPS beat ($0.06 vs. $0.05) and 5.4% YoY revenue growth to $1.18B; the stock trades near $38.51 with a high P/E (~120) and a small annualized dividend of $0.07 (yield ~0.2%).

Jennison Associates LLC cut its holdings in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 65.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 243,220 shares of the company's stock after selling 467,357 shares during the period. Jennison Associates LLC owned 0.07% of GFL Environmental worth $10,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new stake in shares of GFL Environmental in the 3rd quarter valued at about $33,000. EverSource Wealth Advisors LLC boosted its stake in GFL Environmental by 43.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company's stock worth $37,000 after acquiring an additional 219 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in GFL Environmental by 45.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company's stock worth $46,000 after acquiring an additional 304 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in GFL Environmental by 21.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company's stock worth $75,000 after acquiring an additional 289 shares during the last quarter. Finally, Danske Bank A S bought a new position in GFL Environmental during the 3rd quarter worth approximately $82,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GFL has been the topic of several recent analyst reports. Wolfe Research initiated coverage on shares of GFL Environmental in a research note on Friday, March 13th. They set an "outperform" rating on the stock. Citigroup reduced their price objective on shares of GFL Environmental from $55.00 to $51.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Royal Bank Of Canada lifted their price objective on shares of GFL Environmental from $59.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. lowered shares of GFL Environmental from a "neutral" rating to an "underweight" rating and reduced their price objective for the stock from $49.00 to $42.00 in a research note on Tuesday, April 14th. Finally, Weiss Ratings lowered shares of GFL Environmental from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.44.

GFL Environmental Price Performance

NYSE GFL opened at $38.51 on Friday. The business has a 50 day simple moving average of $41.99 and a 200 day simple moving average of $43.22. GFL Environmental Inc. has a 52-week low of $36.96 and a 52-week high of $52.00. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.58 and a current ratio of 1.51. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 120.34, a PEG ratio of 3.39 and a beta of 0.78.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The company's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.09) earnings per share. Analysts anticipate that GFL Environmental Inc. will post 0.55 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were issued a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from GFL Environmental's previous quarterly dividend of $0.02. The ex-dividend date was Monday, April 13th. GFL Environmental's dividend payout ratio is presently 21.88%.

GFL Environmental Company Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company's core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.

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