Assetmark Inc. Sells 960 Shares of GFL Environmental Inc. (NYSE:GFL)

Assetmark Inc. lowered its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 54.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 799 shares of the company’s stock after selling 960 shares during the quarter. Assetmark Inc.’s holdings in GFL Environmental were worth $36,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fred Alger Management LLC boosted its holdings in GFL Environmental by 64.3% during the third quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after acquiring an additional 3,999,363 shares during the period. Soros Fund Management LLC boosted its position in shares of GFL Environmental by 487.0% in the third quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock valued at $125,874,000 after acquiring an additional 2,618,589 shares during the period. FMR LLC grew its stake in shares of GFL Environmental by 7.4% in the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after acquiring an additional 1,728,598 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in GFL Environmental by 162.0% during the third quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company’s stock worth $50,694,000 after acquiring an additional 786,044 shares during the period. Finally, Maverick Capital Ltd. raised its stake in GFL Environmental by 11.3% during the 3rd quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock valued at $145,889,000 after purchasing an additional 372,534 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Stock Performance

GFL stock opened at $46.24 on Friday. The company has a 50 day moving average price of $44.75 and a 200 day moving average price of $43.50. The stock has a market capitalization of $18.19 billion, a PE ratio of -34.77 and a beta of 1.16. GFL Environmental Inc. has a fifty-two week low of $30.57 and a fifty-two week high of $48.87. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 13th 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 of this dividend was Monday, January 13th. GFL Environmental’s dividend payout ratio is presently -3.23%.

Analyst Ratings Changes

Several equities analysts recently issued reports on GFL shares. Stifel Nicolaus upgraded GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Scotiabank raised their price objective on shares of GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 5th. Citigroup started coverage on shares of GFL Environmental in a research note on Monday, January 27th. They issued a “buy” rating and a $53.00 target price on the stock. National Bankshares restated an “outperform” rating on shares of GFL Environmental in a research note on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $53.00 price target on shares of GFL Environmental in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.78.

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.