Pictet Asset Management Holding SA Has $505.86 Million Position in GFL Environmental Inc. (NYSE:GFL)

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

Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in GFL Environmental in the first quarter valued at $28,000. LRI Investments LLC bought a new position in shares of GFL Environmental in the first quarter valued at about $34,000. Natixis bought a new position in shares of GFL Environmental in the fourth quarter valued at about $49,000. Harbor Investment Advisory LLC bought a new position in shares of GFL Environmental in the first quarter valued at about $53,000. Finally, Versant Capital Management Inc raised its position in shares of GFL Environmental by 3,470.3% in the first 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 during the period. Institutional investors and hedge funds own 64.70% of the company's stock.

GFL Environmental Price Performance

GFL Environmental stock traded down $0.05 during trading hours on Monday, reaching $47.42. 159,984 shares of the stock were exchanged, compared to its average volume of 1,461,325. The company has a market cap of $17.39 billion, a P/E ratio of 9.72 and a beta of 1.03. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.89. GFL Environmental Inc. has a twelve month low of $37.00 and a twelve month high of $52.00. The stock has a 50 day moving average of $49.13 and a two-hundred day moving average of $47.29.

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

GFL Environmental Dividend Announcement

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

Wall Street Analyst Weigh In

GFL has been the topic of several research reports. Truist Financial upped their target price on GFL Environmental from $54.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. initiated coverage on GFL Environmental in a research report on Friday, May 23rd. They issued a "neutral" rating and a $54.00 target price on the stock. Citigroup upped their target price on GFL Environmental from $53.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Scotiabank reaffirmed an "outperform" rating on shares of GFL Environmental in a research report on Monday, May 5th. Finally, Seaport Res Ptn raised shares of GFL Environmental to a "strong-buy" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, GFL Environmental currently has an average rating of "Buy" and a consensus target price of $56.29.

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.