Massachusetts Financial Services Co. MA Trims Position in GFL Environmental Inc. (NYSE:GFL)

Massachusetts Financial Services Co. MA lowered its stake in GFL Environmental Inc. (NYSE:GFL - Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,591,706 shares of the company's stock after selling 431,864 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.69% of GFL Environmental worth $511,685,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GFL. US Bancorp DE increased its holdings 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 buying an additional 321 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in GFL Environmental by 350.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company's stock valued at $107,000 after acquiring an additional 1,867 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of GFL Environmental by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 510,528 shares of the company's stock valued at $22,747,000 after acquiring an additional 6,715 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of GFL Environmental in the fourth quarter worth $18,836,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in GFL Environmental by 14.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,735 shares of the company's stock valued at $2,261,000 after purchasing an additional 6,442 shares during the period. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GFL has been the subject of several recent research reports. Royal Bank Of Canada increased their price target on GFL Environmental from $53.00 to $56.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Seaport Res Ptn upgraded shares of GFL Environmental to a "strong-buy" rating in a research report on Tuesday, May 6th. Truist Financial boosted their target price on shares of GFL Environmental from $54.00 to $58.00 and gave the company a "buy" rating in a report on Wednesday, April 2nd. Raymond James Financial reiterated an "outperform" rating and set a $57.00 price target (up from $56.00) on shares of GFL Environmental in a report on Friday, May 2nd. Finally, UBS Group boosted their price objective on GFL Environmental from $50.00 to $57.00 and gave the company a "buy" rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $56.29.

GFL Environmental Stock Down 1.3%

Shares of GFL Environmental stock traded down $0.61 on Tuesday, hitting $47.43. The company had a trading volume of 1,198,671 shares, compared to its average volume of 1,467,250. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of 9.72 and a beta of 1.03. The stock has a 50 day moving average of $49.38 and a 200-day moving average of $47.21. GFL Environmental Inc. has a 1 year low of $37.00 and a 1 year high of $52.00.

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

GFL Environmental Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 14th will be given a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. GFL Environmental's payout ratio is 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.