ArrowMark Colorado Holdings LLC Sells 457,637 Shares of GFL Environmental Inc. (NYSE:GFL)

ArrowMark Colorado Holdings LLC trimmed its position in shares of GFL Environmental Inc. (NYSE:GFL) by 34.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 879,257 shares of the company’s stock after selling 457,637 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 0.23% of GFL Environmental worth $35,065,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC boosted its position in GFL Environmental by 68.6% during the 1st quarter. Tidal Investments LLC now owns 18,133 shares of the company’s stock worth $626,000 after buying an additional 7,377 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of GFL Environmental by 292.5% in the second quarter. Harbor Capital Advisors Inc. now owns 23,024 shares of the company’s stock worth $896,000 after purchasing an additional 17,158 shares during the last quarter. Threadgill Financial LLC increased its holdings in GFL Environmental by 17.1% in the second quarter. Threadgill Financial LLC now owns 11,841 shares of the company’s stock valued at $461,000 after purchasing an additional 1,726 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in GFL Environmental by 43.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,732 shares of the company’s stock worth $379,000 after purchasing an additional 2,937 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in GFL Environmental by 51.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after buying an additional 459 shares during the period. 64.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on GFL. UBS Group increased their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Raymond James increased their price target on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Scotiabank boosted their price objective on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. Finally, Truist Financial raised their price objective on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, GFL Environmental has a consensus rating of “Moderate Buy” and an average price target of $45.80.

GFL Environmental Stock Performance

GFL opened at $47.10 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The company’s fifty day moving average price is $42.34 and its two-hundred day moving average price is $39.81. The company has a market cap of $18.53 billion, a price-to-earnings ratio of -35.41 and a beta of 1.15. GFL Environmental Inc. has a 1-year low of $27.64 and a 1-year high of $47.16.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. On average, analysts expect that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Wednesday, October 16th. GFL Environmental’s dividend payout ratio is -4.51%.

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.