Pictet Asset Management Holding SA Has $482.56 Million Stock Holdings in GFL Environmental Inc. (NYSE:GFL)

Pictet Asset Management Holding SA lowered its stake in GFL Environmental Inc. (NYSE:GFL) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,833,949 shares of the company’s stock after selling 509,565 shares during the quarter. Pictet Asset Management Holding SA owned approximately 2.75% of GFL Environmental worth $482,564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC grew its stake in GFL Environmental by 7.4% in the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock valued at $1,003,591,000 after purchasing an additional 1,728,598 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of GFL Environmental by 64.3% in the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after buying an additional 3,999,363 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of GFL Environmental by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 8,697,180 shares of the company’s stock valued at $387,705,000 after buying an additional 217,096 shares in the last quarter. Maverick Capital Ltd. grew its stake in shares of GFL Environmental by 11.3% in the third quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock valued at $145,889,000 after buying an additional 372,534 shares in the last quarter. Finally, Soros Fund Management LLC increased its holdings in GFL Environmental by 487.0% during the third quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock worth $125,874,000 after buying an additional 2,618,589 shares during the last quarter. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Price Performance

GFL Environmental stock opened at $48.80 on Friday. The company has a market capitalization of $19.20 billion, a price-to-earnings ratio of -36.69 and a beta of 1.16. The stock’s 50 day moving average is $45.48 and its 200-day moving average is $43.86. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental Inc. has a 12 month low of $30.57 and a 12 month high of $49.35.

GFL Environmental (NYSE:GFL) last posted 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 company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.98 billion. Equities research analysts expect that GFL Environmental Inc. will post 0.58 EPS 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 paid a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Monday, January 13th. GFL Environmental’s dividend payout ratio (DPR) is currently -3.23%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Citigroup assumed coverage on shares of GFL Environmental in a research report on Monday, January 27th. They issued a “buy” rating and a $53.00 price objective 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 report on Monday, February 24th. 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 GFL Environmental from $50.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Wednesday, March 5th. Finally, National Bankshares reissued an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.63.

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.