10,983 Shares in GFL Environmental Inc. $GFL Acquired by Palumbo Wealth Management LLC

Key Points

• Palumbo Wealth Management LLC acquired a total of 10,983 shares of GFL Environmental Inc. for approximately $553,000 during Q2, marking a significant investment in the company.
• Wall Street analysts have a positive outlook on GFL Environmental, with multiple firms raising their target prices, resulting in an average target of $58.75 and a consensus rating of "Buy."
• GFL Environmental recently declared a dividend of $0.0154 per share, which translates to an annualized dividend yield of 0.1%.

Palumbo Wealth Management LLC purchased a new stake in GFL Environmental Inc. (NYSE:GFL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,983 shares of the company's stock, valued at approximately $553,000.

Several other large investors also recently made changes to their positions in the business. Millstone Evans Group LLC lifted its holdings in shares of GFL Environmental by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock valued at $27,000 after acquiring an additional 334 shares in the last quarter. Bessemer Group Inc. purchased a new position in GFL Environmental in the first quarter valued at about $28,000. LRI Investments LLC acquired a new position in shares of GFL Environmental during the first quarter worth about $34,000. Harbor Investment Advisory LLC purchased a new stake in shares of GFL Environmental in the first quarter worth about $53,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of GFL Environmental in the first quarter worth about $59,000. Institutional investors and hedge funds own 64.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Scotiabank raised their target price on GFL Environmental from $56.00 to $60.00 and gave the company a "sector outperform" rating in a report on Friday, August 1st. Royal Bank Of Canada lifted their price objective on shares of GFL Environmental from $56.00 to $59.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Citigroup upped their target price on shares of GFL Environmental from $58.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, September 17th. Barclays initiated coverage on shares of GFL Environmental in a report on Friday, September 19th. They set an "overweight" rating and a $62.00 price target for the company. Finally, Truist Financial boosted their price objective on shares of GFL Environmental from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, GFL Environmental has a consensus rating of "Buy" and an average target price of $58.75.

GFL Environmental Stock Performance

GFL Environmental stock opened at $46.49 on Thursday. GFL Environmental Inc. has a 52 week low of $38.78 and a 52 week high of $52.00. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. The stock has a market cap of $16.89 billion, a P/E ratio of 7.32 and a beta of 1.11. The stock has a 50 day moving average of $48.71 and a 200-day moving average of $48.63.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.19. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The business's revenue was up 5.9% compared to the same quarter last year. GFL Environmental has set its FY 2025 guidance at EPS. On average, analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 14th were given a dividend of $0.0154 per share. The ex-dividend date of this dividend was Monday, July 14th. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental's dividend payout ratio (DPR) is presently 0.94%.

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.

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