Jennison Associates LLC Boosts Stock Position in GFL Environmental Inc. (NYSE:GFL)

Jennison Associates LLC increased its holdings in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,332,961 shares of the company's stock after purchasing an additional 147,954 shares during the quarter. Jennison Associates LLC owned 0.36% of GFL Environmental worth $46,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC lifted its holdings in shares of GFL Environmental by 48.9% during the fourth quarter. Signaturefd LLC now owns 1,178 shares of the company's stock valued at $41,000 after purchasing an additional 387 shares in the last quarter. Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of GFL Environmental by 60.1% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 1,209 shares of the company's stock valued at $42,000 after purchasing an additional 454 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of GFL Environmental by 43.1% during the third quarter. First Horizon Advisors Inc. now owns 2,531 shares of the company's stock valued at $80,000 after purchasing an additional 762 shares in the last quarter. Chilton Capital Management LLC bought a new position in shares of GFL Environmental during the fourth quarter valued at $110,000. Finally, Key Financial Inc lifted its holdings in GFL Environmental by 393.0% in the fourth quarter. Key Financial Inc now owns 3,594 shares of the company's stock valued at $124,000 after acquiring an additional 2,865 shares during the period. 64.70% of the stock is owned by institutional investors.

GFL Environmental Stock Down 1.1 %

Shares of NYSE:GFL traded down $0.35 on Wednesday, reaching $32.86. The company had a trading volume of 905,111 shares, compared to its average volume of 1,135,311. GFL Environmental Inc. has a 52-week low of $26.87 and a 52-week high of $39.06. The firm's 50 day simple moving average is $34.72 and its 200-day simple moving average is $32.69. The firm has a market capitalization of $12.20 billion, a PE ratio of -328.60 and a beta of 1.13. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.25.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.14). GFL Environmental had a return on equity of 4.96% and a net margin of 0.64%. The business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.37 billion. As a group, analysts expect that GFL Environmental Inc. will post 0.81 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 0.17%. This is an increase from GFL Environmental's previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Friday, April 12th. GFL Environmental's payout ratio is -60.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GFL shares. Bank of America downgraded GFL Environmental from a "buy" rating to a "neutral" rating and set a $35.00 target price on the stock. in a report on Friday, January 19th. Wells Fargo & Company upped their price target on GFL Environmental from $30.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 6th. BMO Capital Markets increased their target price on GFL Environmental from $40.00 to $42.00 and gave the stock an "outperform" rating in a research report on Thursday, February 22nd. UBS Group assumed coverage on GFL Environmental in a research note on Wednesday, January 31st. They set a "buy" rating and a $44.00 price target for the company. Finally, TheStreet raised GFL Environmental from a "d+" rating to a "c" rating in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, GFL Environmental has an average rating of "Moderate Buy" and an average price target of $42.83.

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.