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

A number of other hedge funds also recently added to or reduced their stakes in the business. Fred Alger Management LLC lifted its holdings in GFL Environmental by 1.9% during the 4th quarter. Fred Alger Management LLC now owns 10,411,148 shares of the company's stock worth $463,713,000 after buying an additional 190,018 shares in the last quarter. Vanguard Group Inc. lifted its holdings in GFL Environmental by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 8,843,436 shares of the company's stock worth $427,166,000 after buying an additional 146,256 shares in the last quarter. American Century Companies Inc. lifted its holdings in GFL Environmental by 87.2% during the 1st quarter. American Century Companies Inc. now owns 4,515,302 shares of the company's stock worth $218,134,000 after buying an additional 2,102,663 shares in the last quarter. Soros Fund Management LLC lifted its holdings in GFL Environmental by 1.5% during the 4th quarter. Soros Fund Management LLC now owns 3,203,904 shares of the company's stock worth $142,702,000 after buying an additional 47,577 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of GFL Environmental by 19.0% in the 1st quarter. TD Asset Management Inc now owns 1,330,765 shares of the company's stock valued at $64,271,000 after purchasing an additional 212,844 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Stock Up 0.2%

Shares of NYSE GFL traded up $0.08 during mid-day trading on Friday, reaching $49.40. The company had a trading volume of 131,381 shares, compared to its average volume of 1,616,416. 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 $17.95 billion, a P/E ratio of 7.77 and a beta of 1.00. The firm has a 50 day simple moving average of $49.14 and a two-hundred day simple moving average of $48.42.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm posted $0.29 EPS. GFL Environmental'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. Sell-side analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GFL shares. Seaport Res Ptn upgraded shares of GFL Environmental to a "strong-buy" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. started coverage on shares of GFL Environmental in a report on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price objective on the stock. Truist Financial raised their price objective on shares of GFL Environmental from $58.00 to $60.00 and gave the company a "buy" rating in a report on Friday, August 1st. Raymond James Financial restated an "outperform" rating and issued a $57.00 price objective (up from $56.00) on shares of GFL Environmental in a report on Friday, May 2nd. Finally, Royal Bank Of Canada raised their price objective on shares of GFL Environmental from $56.00 to $59.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $57.86.

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.