1832 Asset Management L.P. Acquires Shares of 562,000 GFL Environmental Inc. $GFL

Key Points

• 1832 Asset Management L.P. acquired 562,000 shares of GFL Environmental Inc., valued at approximately $27.15 million, representing 0.14% ownership of the company.
• GFL Environmental reported a net margin of 48.53% with quarterly revenue of $1.23 billion, which was below analysts' estimates.
• The company has declared a quarterly dividend of $0.0154 per share, resulting in an annualized yield of 0.1%.

1832 Asset Management L.P. acquired a new stake in GFL Environmental Inc. (NYSE:GFL - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 562,000 shares of the company's stock, valued at approximately $27,150,000. 1832 Asset Management L.P. owned about 0.14% of GFL Environmental as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC lifted its holdings in GFL Environmental by 147.8% in the first quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock valued at $27,000 after acquiring an additional 334 shares during the last quarter. Bessemer Group Inc. acquired a new position in GFL Environmental in the first quarter valued at approximately $28,000. LRI Investments LLC purchased a new stake in shares of GFL Environmental in the 1st quarter valued at approximately $34,000. Natixis acquired a new position in shares of GFL Environmental in the 4th quarter worth approximately $49,000. Finally, Harbor Investment Advisory LLC purchased a new position in shares of GFL Environmental during the 1st quarter worth approximately $53,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GFL has been the subject of several research analyst reports. National Bank Financial upgraded GFL Environmental to a "strong-buy" rating in a research report on Monday, May 26th. Truist Financial upped their target price on shares of GFL Environmental from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Royal Bank Of Canada increased their price objective on GFL Environmental from $56.00 to $59.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Seaport Res Ptn upgraded GFL Environmental to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Scotiabank increased their price objective on GFL Environmental from $56.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $57.86.

GFL Environmental Stock Down 0.5%

GFL stock traded down $0.24 during trading on Wednesday, hitting $49.67. 661,568 shares of the company's stock were exchanged, compared to its average volume of 1,631,690. The business has a 50-day moving average price of $49.15 and a two-hundred day moving average price of $48.39. 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 capitalization of $18.05 billion, a price-to-earnings ratio of 7.82 and a beta of 1.00. GFL Environmental Inc. has a 52-week low of $38.78 and a 52-week high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analysts' expectations of $1.68 billion. During the same quarter in the prior year, the business posted $0.29 EPS. The company's revenue for the quarter was up 5.9% on a year-over-year basis. GFL Environmental has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 14th were issued 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.