GFL Environmental Inc. (NYSE:GFL) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC raised its position in GFL Environmental Inc. (NYSE:GFL - Free Report) by 1.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,411,148 shares of the company's stock after buying an additional 190,018 shares during the quarter. GFL Environmental comprises about 2.2% of Fred Alger Management LLC's holdings, making the stock its 10th largest position. Fred Alger Management LLC owned approximately 2.65% of GFL Environmental worth $463,713,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in GFL Environmental by 3.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 659,375 shares of the company's stock valued at $29,369,000 after purchasing an additional 22,104 shares during the period. Caption Management LLC acquired a new stake in GFL Environmental in the fourth quarter valued at about $235,000. Brevan Howard Capital Management LP acquired a new stake in GFL Environmental in the fourth quarter valued at about $639,000. BNP Paribas Financial Markets acquired a new stake in shares of GFL Environmental during the 4th quarter valued at approximately $128,000. Finally, ArrowMark Colorado Holdings LLC lifted its position in shares of GFL Environmental by 2.9% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 904,598 shares of the company's stock valued at $40,291,000 after acquiring an additional 25,341 shares during the period. 64.70% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Trading Down 1.1%

GFL traded down $0.53 during trading on Tuesday, hitting $48.15. The company's stock had a trading volume of 2,352,044 shares, compared to its average volume of 1,489,064. The firm's 50 day moving average price is $47.94 and its 200-day moving average price is $45.78. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market cap of $18.94 billion, a PE ratio of -36.20 and a beta of 1.08. GFL Environmental Inc. has a twelve month low of $30.57 and a twelve month high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly 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). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.52 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company's revenue was down 13.4% on a year-over-year basis. On average, analysts expect that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th were paid a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. This is an increase from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's dividend payout ratio is currently 1.23%.

Analyst Ratings Changes

A number of research firms have recently issued reports on GFL. Royal Bank of Canada lifted their price target on shares of GFL Environmental from $53.00 to $56.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Stifel Nicolaus upgraded shares of GFL Environmental from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Citigroup boosted their price objective on shares of GFL Environmental from $53.00 to $56.00 and gave the stock a "buy" rating in a research report on Tuesday. Scotiabank reiterated an "outperform" rating on shares of GFL Environmental in a research report on Monday, May 5th. Finally, National Bankshares reiterated an "outperform" rating on shares of GFL Environmental in a research report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $54.57.

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.