TimesSquare Capital Management LLC Cuts Stock Position in GFL Environmental Inc. (NYSE:GFL)

TimesSquare Capital Management LLC decreased its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 27.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,749,095 shares of the company’s stock after selling 646,385 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.47% of GFL Environmental worth $60,361,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its holdings in GFL Environmental by 55.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 12,543,970 shares of the company’s stock worth $398,396,000 after purchasing an additional 4,490,164 shares during the period. Nordea Investment Management AB increased its holdings in GFL Environmental by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 7,384,983 shares of the company’s stock worth $256,259,000 after purchasing an additional 1,053,530 shares during the period. Vanguard Group Inc. boosted its position in shares of GFL Environmental by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 7,154,314 shares of the company’s stock worth $227,221,000 after acquiring an additional 140,719 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of GFL Environmental by 6.2% during the 3rd quarter. Fred Alger Management LLC now owns 6,050,953 shares of the company’s stock worth $192,178,000 after acquiring an additional 355,191 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of GFL Environmental by 4.5% during the 3rd quarter. Royal Bank of Canada now owns 5,498,322 shares of the company’s stock worth $174,628,000 after acquiring an additional 235,405 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Analysts Set New Price Targets

GFL has been the subject of several analyst reports. TheStreet raised GFL Environmental from a “d+” rating to a “c” rating in a research report on Tuesday, February 20th. Royal Bank of Canada initiated coverage on GFL Environmental in a research report on Monday, April 8th. They set an “outperform” rating and a $46.00 price objective for the company. BMO Capital Markets upped their price objective on GFL Environmental from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Bank of America cut GFL Environmental from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a research report on Friday, January 19th. Finally, UBS Group started coverage on GFL Environmental in a research report on Wednesday, January 31st. They issued a “buy” rating and a $44.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.08.

GFL Environmental Stock Performance

GFL Environmental stock traded down $0.51 during mid-day trading on Thursday, reaching $32.16. 1,122,420 shares of the company were exchanged, compared to its average volume of 1,158,912. GFL Environmental Inc. has a twelve month low of $26.87 and a twelve month high of $39.06. The firm’s 50-day simple moving average is $34.02 and its two-hundred day simple moving average is $32.79. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $11.94 billion, a PE ratio of 51.22 and a beta of 1.15.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. GFL Environmental had a return on equity of 4.51% and a net margin of 1.25%. Equities analysts predict that GFL Environmental Inc. will post 0.7 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.17%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. The ex-dividend date was Friday, April 12th.

GFL Environmental Company 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.