Primecap Management Co. CA Sells 3,000 Shares of GFL Environmental Inc. (NYSE:GFL)

Primecap Management Co. CA trimmed its position in GFL Environmental Inc. (NYSE:GFL) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,051,200 shares of the company’s stock after selling 3,000 shares during the quarter. Primecap Management Co. CA’s holdings in GFL Environmental were worth $46,820,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Erste Asset Management GmbH increased its position in GFL Environmental by 2.0% in the 4th quarter. Erste Asset Management GmbH now owns 13,371 shares of the company’s stock valued at $597,000 after buying an additional 261 shares in the last quarter. Swiss National Bank increased its position in GFL Environmental by 0.4% in the 4th quarter. Swiss National Bank now owns 664,600 shares of the company’s stock valued at $29,613,000 after buying an additional 2,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in GFL Environmental by 15.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,292,419 shares of the company’s stock valued at $57,541,000 after buying an additional 169,437 shares in the last quarter. Avantax Advisory Services Inc. increased its position in GFL Environmental by 9.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,237 shares of the company’s stock valued at $367,000 after buying an additional 709 shares in the last quarter. Finally, S&CO Inc. increased its position in GFL Environmental by 6.6% in the 4th quarter. S&CO Inc. now owns 57,805 shares of the company’s stock valued at $2,574,000 after buying an additional 3,600 shares in the last quarter. 64.70% of the stock is owned by institutional investors.

GFL Environmental Price Performance

Shares of NYSE GFL opened at $46.64 on Wednesday. GFL Environmental Inc. has a twelve month low of $30.57 and a twelve month high of $48.87. The stock’s 50 day moving average price is $44.86 and its 200-day moving average price is $43.55. The company has a market capitalization of $18.35 billion, a PE ratio of -35.07 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 announced its earnings results on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.98 billion. On average, equities analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

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

Wall Street Analyst Weigh In

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