Pictet Asset Management Holding SA Sells 362,535 Shares of GFL Environmental Inc. (NYSE:GFL)

Pictet Asset Management Holding SA reduced its holdings in GFL Environmental Inc. (NYSE:GFL - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,471,414 shares of the company's stock after selling 362,535 shares during the period. Pictet Asset Management Holding SA owned 2.66% of GFL Environmental worth $505,860,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new position in shares of GFL Environmental in the 1st quarter valued at approximately $28,000. LRI Investments LLC bought a new stake in shares of GFL Environmental during the 1st quarter worth $34,000. Natixis bought a new position in GFL Environmental in the fourth quarter valued at about $49,000. Harbor Investment Advisory LLC acquired a new position in GFL Environmental during the first quarter worth about $53,000. Finally, Versant Capital Management Inc boosted its stake in shares of GFL Environmental by 3,470.3% in the 1st quarter. Versant Capital Management Inc now owns 1,321 shares of the company's stock valued at $64,000 after purchasing an additional 1,284 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Trading Down 0.1%

Shares of GFL Environmental stock traded down $0.03 during trading on Friday, reaching $47.48. 677,646 shares of the stock were exchanged, compared to its average volume of 1,466,499. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.89. The firm has a market cap of $17.41 billion, a price-to-earnings ratio of 9.73 and a beta of 1.03. GFL Environmental Inc. has a 1 year low of $37.00 and a 1 year high of $52.00. The stock's fifty day moving average is $49.13 and its 200 day moving average is $47.27.

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

GFL Environmental Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 14th will be issued 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%.

Analysts Set New Price Targets

Several research analysts have issued reports on GFL shares. JPMorgan Chase & Co. started coverage on shares of GFL Environmental in a research report on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price target on the stock. Truist Financial increased their price target on GFL Environmental from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, April 2nd. Raymond James Financial reiterated an "outperform" rating and set a $57.00 target price (up previously from $56.00) on shares of GFL Environmental in a research report on Friday, May 2nd. Citigroup lifted their price target on shares of GFL Environmental from $53.00 to $56.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, Scotiabank restated an "outperform" rating on shares of GFL Environmental in a research note on Monday, May 5th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $56.29.

GFL Environmental 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.