Renaissance Technologies LLC Sells 148,200 Shares of GFL Environmental Inc. (NYSE:GFL)

Renaissance Technologies LLC reduced its stake in GFL Environmental Inc. (NYSE:GFL - Free Report) by 86.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,047 shares of the company's stock after selling 148,200 shares during the period. Renaissance Technologies LLC's holdings in GFL Environmental were worth $1,071,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in GFL Environmental by 124.9% during the fourth quarter. Blue Trust Inc. now owns 551 shares of the company's stock worth $25,000 after buying an additional 306 shares during the last quarter. Berbice Capital Management LLC bought a new position in GFL Environmental during the 4th quarter worth approximately $27,000. SRH Advisors LLC acquired a new position in GFL Environmental during the fourth quarter valued at approximately $89,000. Steward Partners Investment Advisory LLC increased its stake in GFL Environmental by 350.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company's stock valued at $107,000 after purchasing an additional 1,867 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in GFL Environmental by 6,717.9% in the fourth quarter. Venturi Wealth Management LLC now owns 2,659 shares of the company's stock worth $118,000 after purchasing an additional 2,620 shares during the period. 64.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GFL has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $53.00 price objective on shares of GFL Environmental in a research report on Monday, February 24th. UBS Group raised their price target on GFL Environmental from $50.00 to $57.00 and gave the stock a "buy" rating in a research report on Friday, April 4th. National Bankshares reiterated an "outperform" rating on shares of GFL Environmental in a research report on Tuesday, March 11th. Scotiabank raised their target price on shares of GFL Environmental from $52.00 to $54.00 and gave the stock an "outperform" rating in a report on Tuesday, April 8th. Finally, Stifel Nicolaus upgraded shares of GFL Environmental from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.13.

GFL Environmental Stock Up 1.1 %

Shares of NYSE:GFL traded up $0.56 during midday trading on Friday, reaching $50.40. The company had a trading volume of 1,345,603 shares, compared to its average volume of 1,475,216. GFL Environmental Inc. has a 1-year low of $30.57 and a 1-year high of $51.04. The stock has a market cap of $19.83 billion, a PE ratio of -37.89 and a beta of 1.08. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The business's 50 day moving average price is $47.34 and its 200 day moving average price is $45.37.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.10). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.52 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company's quarterly revenue was down 13.4% on a year-over-year basis. Research analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 14th were issued a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. This is a boost from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's dividend payout ratio (DPR) is presently 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.