Mitsubishi UFJ Trust & Banking Corp Sells 1,215,337 Shares of GFL Environmental Inc. (NYSE:GFL)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in GFL Environmental Inc. (NYSE:GFL) by 45.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,459,305 shares of the company’s stock after selling 1,215,337 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.37% of GFL Environmental worth $65,164,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. lifted its stake in GFL Environmental by 124.9% in the fourth quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after acquiring an additional 306 shares during the last quarter. Berbice Capital Management LLC bought a new stake in shares of GFL Environmental in the 4th quarter valued at about $27,000. Continuum Advisory LLC lifted its stake in GFL Environmental by 60.6% in the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock valued at $29,000 after purchasing an additional 254 shares during the last quarter. SRH Advisors LLC acquired a new position in GFL Environmental during the fourth quarter worth approximately $89,000. Finally, Steward Partners Investment Advisory LLC increased its position in GFL Environmental by 350.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company’s stock worth $107,000 after buying an additional 1,867 shares during the last quarter. 64.70% of the stock is owned by institutional investors.

GFL Environmental Stock Performance

NYSE GFL opened at $48.63 on Wednesday. The firm has a 50-day moving average price of $45.24 and a two-hundred day moving average price of $43.79. GFL Environmental Inc. has a 12-month low of $30.57 and a 12-month high of $49.00. The company has a market capitalization of $19.13 billion, a P/E ratio of -36.56 and a beta of 1.16. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental (NYSE:GFL) last issued 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 during the quarter, compared to analysts’ expectations of $1.98 billion. Analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 13th were given a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Monday, January 13th. GFL Environmental’s payout ratio is currently -3.23%.

Analyst Ratings Changes

Several brokerages have recently commented on GFL. Scotiabank lifted their target price on GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $53.00 price objective on shares of GFL Environmental in a research report on Monday, February 24th. Citigroup initiated coverage on shares of GFL Environmental in a report on Monday, January 27th. They issued a “buy” rating and a $53.00 price objective on the stock. Stifel Nicolaus upgraded shares of GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, National Bankshares reiterated an “outperform” rating on shares of GFL Environmental in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.63.

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.